Several companies listed on the Nigerian Stock Exchange had earlier today notified The Exchange and the investing public of their board meetings.
Flour Mills of Nigeria announced that the Board of the Company will meet in Lagos on Monday, 25th January 2021 to consider among other things the Company’s unaudited Financial Statements for the third quarter ended 31st December 2020.
In accordance with the with the NSE Rule Book, the closed period for trading in the shares of the Company has commenced on Monday, 18th January 2021. The closed period will end 24 hours after the release of the unaudited Financial Statements for the third quarter ended 31st December 2020 to the Nigerian Stock Exchange and by extension, the general public.
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Berger Paints published its 2021 calendar of Board meetings, with January 27, 2021 set for its Board meeting to consider and approve the unaudited results for fourth quarter 2020.
Red Star Express Plc informed it’s shareholders, the investing public and The Nigerian Stock Exchange that the Board of the Company will meet on Tuesday January 26, 2021 at 11.00am at the Company’s office 4, Adeola Ajayi Crescent, Mafoluku Lagos to review and approve the Third Quarter Unaudited Financial Statements of the Company for the year ending 31st March 2021.
Consequently, the Company declared that the closed period for trading in its shares commenced January 13, 2021 until 24 hours after the financial statements are filed with The Exchange.
Morison Industries Plc informed The Nigerian Stock Exchange, its shareholders and the investing public that the Board of Directors of the Company will meet on Thursday, January 28, 2021 to amongst other matters, consider the Fourth Quarter Unaudited Financial Statements for the period ended 31 December 2020 and other issues relating to the business of the Company.
Consequently, the Company has commenced a closed period from Monday, January 18, 2021 until 24 hours after the Accounts have been released to the public.
McNichols Consolidated Plc notified The Nigerian Stock Exchange and the investing public that the Company has scheduled to hold a Board Meeting on Thursday the 28th day of January, 2021 to approve the Company’s 4th Quarter 2020 Unaudited Accounts.
Consequently in compliance with the Rulebook of The Exchange, the closed period commenced from Tuesday, 12th January 2021 until 24 hours after the Unaudited Financial Statements have been filed with The Exchange.
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.”
Rule 17:18 (b) mandates all issuers to notify The Exchange in advance of the commencement of each closed period.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur