UBA Suspends Trading of Shares at Stock Market
By Modupe Gbadeyanka
United Bank for Africa (UBA) Plc has announced the commencement of the closed period for trading its shares on the Nigerian Stock Exchange (NSE) on Wednesday, January 11, 2017.
This is in preparation for the release of its 2016 fourth quarter (Q4) Accounts and Financial Statements for the period ended December 31, 2016 to the NSE as required.
In its notice to the NSE today, UBA said, “no Director, person discharging managerial responsibility, employees with sensitive information, advisers and consultants of the Bank and their connected persons may directly or indirectly deal in the securities (Shares and Bonds) of the Bank until the 24 hours after the release of the Audited Accounts and Financial Statements of the Group for the period ended December 31, 2016 to the Nigerian Stock Exchange and by extension, the general public.”
Business Post correspondent reports that quoted companies on the NSE are mandated to adhere to this post-listing requirement to prevent insider trading by any party who might be privy to any negative and or positive information about the financial status of the company.©Business Post Nigeria. Permission to reproduce, publish, broadcast, rewrite or redistribute this content or any other on this website in whole or in part is granted so far appropriate credit is given to www.businesspost.ng as the source. If you seek further information, please contact us via firstname.lastname@example.org or call 08180851450. Do you have a story for us or you want your press releases published on our platform or you simply want us to cover your event? Kindly reach us through the above contact details. Thank you.