On Friday, 1st July, several companies listed on the Nigerian Exchange gave notices of their respective Board Meetings.
NASCON Allied Industries Plc (NGX: NASCON), United Bank for Africa Plc (NGX: UBA), Ecobank Transnational Incorporated (NGX: ETI), FCMB Group Plc (NGX: FCMB), and Union Bank of Nigeria Plc (NGX: UBN) all made the announcements through their respective publications.
NASCON informed Nigerian Exchange Limited and the public that a meeting of the Board of Directors of NASCON Allied Industries Plc. will be held on July 25, 2022.
One of the items on the agenda for the meeting is the consideration and approval of the Unaudited Financial Statements of the Company for the half-year period ending June 30, 2022.
In view of this, the Company will commence a Closed Period from July 1, 2022 until twenty-four (24) hours after the relevant resolutions passed at the Board meeting, are released to the public.
In line with listing regulations of the Nigerian Exchange Limited for quoted companies, United Bank for Africa Plc informed its shareholders, the Nigerian Exchange Limited, and the investing public that the Board of Directors of the Bank is scheduled to meet on Thursday, July 14, 2022, to consider, amongst other matters, the 2022 Half-Year Financial Statements and Reports for the period ended June 30, 2022.
In compliance with the post listing requirements of the Nigerian Exchange Limited for quoted companies, United Bank for Africa Plc went further to declare the commencement of the closed period for trading in the Bank’s shares from Friday, July 1, 2022, in respect of the 2022 HalfYear Financial Statements and Reports for the period ended June 30, 2022.
Ecobank Transnational Incorporated wrote to advise the Nigerian Exchange Limited and all stakeholders that the Board of Directors of ETI shall hold a board meeting on Friday 22nd July 2022 to consider the 2nd Quarter Unaudited Accounts for the period ended June 30, 2022.
In compliance with the Rule 17 of the NGX Listing Rules, ETI declared a closed period from July 1, 2022, until 24 hours after the outcome of the board meeting and publication of the Unaudited Accounts on the NGX.
FCMB on its part gave notice that the Board of Directors’ meeting of FCMB Group Plc is scheduled to hold on Friday, July 22, 2022 at 11.00am via Microsoft teams.
The meeting is the regular meeting to consider the 2022 Q2 performance report of the Group.
FCM Group Plc therefore declared the commencement of the closed period for trading in the Company’s shares by an Insider r related party, from July 1, 2022 in respect of the Unaudited Financials for the quarter ended June 30, 2022 until 24 hours after the publication of the Accounts.
In compliance with Nigerian Exchange Limited’s Rule Book and the Amendments to the Listing Rules, Union Bank of Nigeria Plc notified the NGX and it’s stakeholders that the Board of Directors of Union Bank of Nigeria Plc is scheduled to approve the Bank’s Unaudited Financial Statements and Reports for the period ended 30th June 2022, on Thursday, 28th July 2022.
Consequently, the Closed Period in respect of which no insider of Union Bank of Nigeria Plc may buy and or sell shares of the Bank which commences on 1st July 2022 will continue to be in force until twenty-four (24) hours after the filing of the Unaudited Financial Statement for the period ended 30th June 2022 with NGX.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur