Companies are beginning to announce their close periods as they prepare to release their financial statements for the third quarter ended September 30, 2019. These companies have also disclosed the dates of the meetings of their boards of directors.
The following companies disclosed their close periods in the notifications sent to the Nigerian Stock Exchange (NSE).
Royal Exchange: In a statement sent to the NSE and seen by Nairametrics, the company said, “Notice is hereby given that the Board Meeting of the above-named Company will be held at the Boardroom, Royal Exchange House, 26E, Abdul-Rahaman Okene Close, Victoria Island, Lagos on Thursday, October 16, 2019, by 10:00 am to receive and consider the following business:
- To receive and consider the Unaudited Financial Statements of the Company for the period ended September 30, 2019;
- Any other business.
“Consequently and in accordance with the provisions of Rule 17.18(b) of The Nigerian Stock Exchange Rule Book (the Rules), the Company wishes to announce the commencement of a closed period from October 2, 2019 until 24 hours after the release of the Financial Statements of the Company to the Nigerian Stock Exchange and the general public.
“Members of the board and all relevant insiders have equally been notified of the closed period.”
Continental Reinsurance Plc: Continental Reinsurance has also revealed when it would be having its Board of Directors’ meeting ahead of the release of Q3 financial statements.
In its notification to NSE, the company said, “The Nigerian Stock Exchange is hereby notified that the meeting of the Board of Directors of Continental Reinsurance Plc (“the Company”) to consider, amongst other items, the 3rd Quarter Unaudited Financial Statements of the Company and of the Group for the period ended September 30, 2019, will hold on October 29, 2019.”
The Company also declared a closed period in respect of transactions on its securities from October 03, 2019 until 24 hours after the filing of the 3rd Quarter Unaudited Financial Statements or as will be subsequently announced in compliance with the Rules of the Nigerian Stock Exchange.
“Accordingly, no director, employee, person discharging managerial responsibility, advisers of the Company and their connected persons may directly or indirectly, deal in the securities of the Company in any manner during the closed period.”
Africa Prudential Plc: The registration service provider has also announced its close period. The notification read:
“Notice is hereby given to The Nigerian Stock Exchange (The Exchange), our stakeholders and the investing public that a meeting of the Board of Directors of Africa Prudential Plc (the Company) is scheduled to hold on Monday, October 21, 2019 to consider amongst other things, the Unaudited Financial Statements for the period ended September 30, 2019.
“In compliance with the Post Listing Rules of The Exchange, there will be a closed period commencing from October 6, 2019, until 24 hours after the Unaudited Financial Statements have been filed with The Exchange.
“During the closed period, no Director, person discharging managerial responsibility and Adviser of Africa Prudential Plc shall deal directly or indirectly in the shares of the Company in any manner howsoever.”