• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

Royal Exchange Plc announces inability to submit financial statements

Chidinma Anyalewechi by Chidinma Anyalewechi
July 6, 2021
in Company News
Royal Exchange completes acquisition deal between German Fund and subsidiary , Royal Exchange subsidiary receives investment from German Government
Share on FacebookShare on TwitterShare on Linkedin

Royal Exchange Plc has announced its inability to present its Audited Financial Statement and Unaudited Financial Statement to the Nigerian Exchange Limited during the stipulated period.

In a statement signed by the company secretary, Ngozika Onu, the management of Royal Exchange Plc sought to advise the company’s shareholders as well as the investing public that the company is unable to submit its Audited Financial Statement for the year ended December 31, 2020, and Unaudited Financial Statements for the period ended March 31, 2021, to the Nigerian Exchange Limited (NGX) within the timeframe required by the NGX.

The disclosure stated that the Year-end audit exercise for the group is yet to be concluded as the insurance and finance subsidiaries are still awaiting approvals from their regulatory bodies, that is, the National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN).

RelatedStories

Follow the Money with Ugodre, to get the insight about Nigeria’s financial markets

Zenith Bank’s blow out profits, Seplat $1 billion dividend, Stocks about to boom 

September 23, 2025
NGX slips, inflation falls to 20.12%, CBN tightens CEO exit rule    

NGX slips, inflation falls to 20.12%, CBN tightens CEO exit rule   

September 22, 2025

The company further assured its shareholders and the investing company, stating that upon the approval of the respective financial statements of both subsidiaries, the consolidation of the Group’s accounts for the year ended December 31, 2020, will be concluded and released to the public.

In addition, the Unaudited Financial Statements for the period ended March 31, 2021 will be prepared and approved by the Board of Directors for submission to the NGX and Securities Exchange Commission (SEC).

The company stated that it is optimistic that the pending financial statements would be made available and submitted on or before September 30, 2021.

What you should know

On Friday, June 2, 2021, trading in the stocks of Royal Exchange Plc and 3 other companies were suspended by the Nigeria Exchange Limited (NGX).

This action was taken on the back of the failure of the companies to present for submission, their Audited Financial Statements for the year ended December 2020 or their Unaudited Financial Statements for the period of March 2021 or both.

This penalty is embedded in the Rules for Filing of Accounts and Treatment of Default Filing which governs all listed companies on the exchange. Rule 3.1 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 (2) business days after the end of the Cure Period;

(b) Suspend trading in the Issue’s securities; and

(c) Notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

Hence, the suspension in trading on the shares of Royal Exchange Plc will persist till September 30, 2021, if the company unfailingly submits both financial statements.


Follow us for Breaking News and Market Intelligence.
Tags: NGXRoyal Exchange PlcSECSecurities and Exchange Commission
Chidinma Anyalewechi

Chidinma Anyalewechi

For further inquiries about this article, contact: Email: chidinma.anyalewechi@nairametrics.com LinkedIn: linkedin.com/in/chidinma-anyalewechi-a323ab173/

Related Posts

Follow the Money with Ugodre, to get the insight about Nigeria’s financial markets
Digital Media

Zenith Bank’s blow out profits, Seplat $1 billion dividend, Stocks about to boom 

September 23, 2025
NGX slips, inflation falls to 20.12%, CBN tightens CEO exit rule    
Digital Media

NGX slips, inflation falls to 20.12%, CBN tightens CEO exit rule   

September 22, 2025
Securities and Exchange Commission Nigeria building exterior
Blurb

A new era for bonds: SEC’s mark-to-market reform takes center stage

September 22, 2025
Securities and Exchange Commission Nigeria building exterior
Breaking News

SEC approves ‘marked to market” valuation for fixed income securities 

September 22, 2025
Royal Exchange PLC
Companies

Nexamont acquires 21.4% stake in Royal Exchange Plc valued at N3.6 billion 

September 21, 2025
Nigeria’s SEC-approved crowdfunding platforms 
Exclusives

Meet the owners of Nigeria’s SEC-approved crowdfunding platforms 

September 20, 2025
Next Post
NGX closes positive with market capitalisation up by N533 billion

MAYBAKER and TOTAL soar as NGX ASI maintains bullish pace

Comments 1

  1. Anonymous says:
    July 7, 2021 at 5:56 am

    What will be the position of the investor to recover their funds.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • BREAKING: GTCO posts pre-tax profit of N601 billion in H1 2025, declares interim dividend of N1.00 
  • Zenith Bank to pay Jim Ovia N5.18 billion as dividend 
  • Champion Breweries to raise N58 billion from capital market

Follow us on social media:

Recent News

GTCO to write off Aiteo loan and switch to aggressive recovery plan

BREAKING: GTCO posts pre-tax profit of N601 billion in H1 2025, declares interim dividend of N1.00 

September 23, 2025
Jim Ovia, the chairman and founder of Zenith Bank

Zenith Bank to pay Jim Ovia N5.18 billion as dividend 

September 23, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics