GOING by the provisions of Rule 17.13 of the Rulebook of Nigerian Exchange Limited (NGX) (Issuers’ Rules), The Exchange has been formally notified by VFD Group Plc that its total shareholding as a single shareholder in Nigerian Exchange Group Plc (NGX Group) stands at 5.17 per cent of the issued share capital of NGX Group as at 16 February 2022.
Specifically, on Tuesday, The NGX Group has notified The Exchange of its intention of taking the option two provided by the Securities and Exchange Commission (SEC) in respect of the submission of its result.
“Further to the circular NGXREG/LRD/CIR01/22/01/21 dated 21 January 2022 wherein the options provided by the Securities and Exchange Commission to public companies regarding the submission of fourth quarter (Q4) Unaudited Financial Statements (UFS) and the filing of 2021 Audited Financial Statements (AFS) had been communicated by NGX Regulation Limited to listed companies, Nigerian Exchange Group Plc (NGX Group) had chosen Option 2, Not to file its Q4, 2021 UFS but to file its 2021 AFS within sixty (60) days after its year-end”.
Prior to the adoption by NGX Group of this filing regime, the meeting date of the Board of NGX Group to consider the 2021 AFS had earlier been scheduled for 22 March 2022 as contained in the Release Calendar filed on the NGX Issuers’ Portal.
However, given this new filing regime, the date of the Board meeting of NGX Group had to be urgently re-scheduled to 23 February 2022 for the consideration and approval of the 2021 AFS to ensure compliance with the applicable timeline (within sixty (60) days after the year-end).
The outcome of the meeting which considered and approved NGX Group’s AFS for the year ended 31 December 2021 was undisclosed as at press time.
As communicated in their earlier advisory to employees and Directors, the Closed Period commenced on 1 January 2022 and will continue until twenty-four (24) hours after the filing of the AFS with the Commission and NGX respectively.
Therefore, no Insider of the Company may directly or indirectly deal in the shares of NGX Group until 24 hours after the AFS for the year ended 31 December 2021 has been filed with the Commission and released to NGX and the investing public.
