Home Business News NSE lifts suspension on Thomas Wyatt Nigeria Plc

NSE lifts suspension on Thomas Wyatt Nigeria Plc

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The Nigerian Stock Exchange (NSE) has lifted the suspension that halted Thomas Wyatt Nigeria Plc from trading its shares on the Nigerian bourse.

According to the NSE, Thomas Wyatt Nigeria’s suspension was lifted after the company made available its outstanding financial statements.

“In view of the submission of the Company’s outstanding 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”, Dealing members are hereby notified that the suspension placed in the trading of the shares of Thomas Wyatt Nigeria Plc was lifted today, Wednesday, 20 March 2019.”

Recall that Thomas Wyatt Nigeria Plc, was on Thursday, November 1, 2019, suspended alongside 5 other firms from trading their shares on the NSE alongside other companies such as Unity Bank, Fortis Microfinance Bank, Multi-Trex Intergrated Foods Plc, etc.

We reported that the company was suspended in accordance with the listing rule of the Nigerian Stock Exchange which stipulates as follows-

If an Issuer fails to file the relevant accounts by the expiration of the Cure PeriodThe Exchange will: (a) Send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; (b) Suspend trading in the Issuer’s securities; and (c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty-four (24) hours of the suspension.”

About Thomas Wyatt Nigeria Plc

Thomas Wyatt Nigeria Plc’s business model involves in paper conversion and printing. The company, which was formerly known as Thomas Wyatt and Sons (West Africa), was incorporated on March 18th 1948. It became a public company in 1978.

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