NSE lifts R.T Briscoe’s suspension
Oluwaseun Afolabi is Businessamlive Reporter.
You can contact him on afolabi.oluwaseun@businessamlive.com with stories and commentary.
The Nigerian Stock Exchange (NSE) today, announced that it has lifted the suspension it had earlier placed on the shares of R.T. Briscoe Nigeria Plc, after the club failed to submit its financials as at when due.
In a statement signed by Godstime Iwenekhai, NSE’s Head of Listings Regulation Department, the exchange stated that the suspension of the Issuer’s securities was lifted based on the submission of the relevant accounts.
The statement read, “In view of the Briscoe’s submission of its Audited Financial Statements, 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.”
R.T Briscoe was suspended from trading its shares alongside 10 other firms for their failure to submit their financial statements. The other suspended firms were FTN Cocoa Processors Plc, Goldlink Insurance Plc, Guinea Insurance Plc, LASACO Assurance Plc, Niger Insurance Plc, Conoil Plc, Resort Savings & Loans Plc, Royal Exchange Plc, Standard Alliance Insurance Plc, and Universal Insurance Plc.