The Nigerian Stock Exchange has notified the investing public that the Rules on Release Calendar for Regulatory Announcements And Filings of Listed Companies shall become effective on 3 August 2020.
The Exchange had on 22 August 2019 issued a deferral notice of the rule’s effective date.
The draft Rules were presented to the Rules and Adjudication Committee of Council (RAC) at the RAC Meeting of 15 May 2018, and was approved by SEC on 6 May 2019.
According to the Rules, the release calender which is a part of The Exchange’s Issuers’ Portal will contain the following and will be available to the investing public;
- A list of all Issuers;
- The regulatory due date for financial filings for all Issuers;
- All Issuer’s financial year end, the expected financial filing dates, the expected Annual General Meetings / Extraordinary General Meeting dates, dates of Board Meetings, announcements relating to interim and final dividends, the actual filing dates of financial statements and the actual dates of Annual General Meetings.
The rule requires all Issuers listed on The Exchange’s Main Board and Premium Board to submit the above listed items for the subsequent year, by the third quarter of its current financial year, but not later than the last day of its current financial year.
In addition, each Issuer shall publish and retain the information relating to the Issuer on the items stated above on its website.
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According to the rule, a company newly listed on The Exchange shall submit information on the above listed items, for the current year to The Exchange, and release it to the market, at least three (3) business days prior to the date on which its securities are set to begin trading on The Exchange.
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