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NSE Lifts Trading Suspension on Thomas Wyatt Nigeria

By Modupe Gbadeyanka

The suspension earlier placed on the trading in the shares of Thomas Wyatt Nigeria Plc by the Nigerian Stock Exchange (NSE) has now been lifted.

The firm had earlier incurred the wrath of the stock market regulator over its failure to file its audited accounts at the appropriate time.

But after making amends, the NSE decided to have mercy on the company, allowing interested investors to start trading in the shares of Thomas Wyatt Nigeria.

A statement from the NSE confirmed the lifting of the embark on the firm on Monday, October 9, 2017.

“We refer to our bulletin dated October 4, 2017, notifying you of the suspension of four listed c g,

Rulebook of The Exchange (Issuers’ Rules), which states that; ‘If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: (a) send to the Issuer a ‘Second Filing Deficiency Notification’ within two business days after the end of the Cure Period; (b) suspend trading companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing in the Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within 24 hours of the suspension’.

“Our bulletin stated that the suspension of the companies would be lifted upon the submission of the relevant accounts.

“Thomas Wyatt Nigeria Plc which was one of the companies suspended, submitted its audited accounts for the period ended March 31, 2017 on October 6, 2017.

“In view of the submission of the relevant accounts and our satisfaction that the accounts complied with our applicable rules, The Exchange has lifted the suspension of trading in the shares of Thomas Wyatt Nigeria Plc.

“The public is hereby notified that pursuant to Rule 3.3, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules), which states 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, that the suspension has been lifted’; the suspension of trading in the shares of Thomas Wyatt Nigeria Plc has been lifted today, October 9, 2017.”

 

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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