Nigerian bourse, NSE, lifts trading suspension on Conoil shares
Adesola Afolabi was a businessamlive reporter and Head of Financial desk.
The Nigerian Stock Exchange has lifted the trading suspension placed on the shares of Conoil Plc. The bourse had on Monday placed the suspension as the company was unable to submit its financials for Q1 2018.
However, the suspension was lifted under 24 hours following Conoil Plc. submission of its unaudited financial statement for the period ended 31 March 2018.
The NSE consequently lifted the suspension in view of the submission of its accounts and pursuant to “Rule 3.3 of the Default Filing Rules, which provides 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.
“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”; the general public is hereby notified that the suspension placed in the trading of the Company’s shares has been lifted effective today, Wednesday, 8 August 2018.”