WorldStage Newsonline-- The Nigerian Stock Exchange (NSE) has lifted the trading suspension earlier placed on the shares of Equity Assurance Plc for failing to file its relevant accounts for investor’s perusal.
This brings to total, two recalled companies from the 17 companies suspended by the NSE on the 5th of July for filing infractions.
The NSE had earlier this week, lifted the suspension of Sovereign Trust Insurance Plc following the filing of its results.
A market bulletin signed by the NSE’s Acting Head, Listings Regulation Department Mr Godstime Iwenekhai disclosed that the trade restriction on Equity Assurance shares was removed on Friday after the company submitted its audited accounts for the period ended December 31, 2016, on July 13, 2017.
“In view of the submission of the relevant accounts and our satisfaction that the accounts complied with our applicable rules, The Exchange has lifted the suspension of trading in the shares of Equity Assurance Plc,” the statement said.
Iwenekhai explained that the suspension was lifted pursuant to Rule 3.3, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules), which states that; The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.