Dangote Sugar Refinery Plc (NSE: DANGSUGAR) announced the commencement of a Closed Period for the trading of the Company’s Shares.
The Board of Directors of the Company is scheduled to be held on Friday October 23, 2020. They will consider the draft unaudited financial statement of the Company for the Q3 ended September 30, 2020.
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Consequently, the Closed Period commenced on Thursday October 8, 2020, and will continue until 24 hours after the filling of the Results.
Presco Plc (NSE: PRESCO) also gave notice that the next Board Meeting of the Company will be held on Wednesday October 28, 2020 at 9.00am. The meeting will hold at the Board Room, Dura club, Obaretin Estate, Km 22 Benin/Sapele Road, Ikpoba-Okha LGA, Edo State.
The agenda for the meeting will be as follows:
- Election of Chairman
- Minutes of the last meeting
- Matters arising from the minutes of the last meeting
- Unaudited Accounts for the third quarter (nine months) ended September 30, 2020
- Operations report for the third quarter (nine months) ended September 30, 2020
- Reconstitution of Board Committees
- Use of Common Seal
- Any other Business
The closed period is the time between the completion of a listed company’s financial results and the announcing of these results to the public.
It is regarded as the one-month period preceding the release of a company’s quarterly results, and the two-month period before the release of its annual results.
According to Rule 17.17 of the Nigerian Stock Exchange Rule Book, “no Director, person discharging managerial responsibility and Adviser of the Issuer and their connected persons shall deal in the securities of the Issuer when the trading window is closed. Any period during which trading is restricted shall be termed as a closed period.”
By; Nnamdi M.