NSE lifts suspension placed on shares of Thomas Wyatt

The Nigerian Stock Exchange (NSE) has notified Dealing Members of lifting of suspension placed on the trading in the shares of Thomas Wyatt Nigeria Plc.

In a statement signed by Lilian Dako for the head, listings regulation department, the NSE referred to its Market Bulletin dated November 1, 2018 with Reference Number: NSE/RD/LRD/MB01/18/11/01 which “we notified Dealing Members of the suspension of six (6) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange,”.

The Rules provide 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 Issuer’s securities; and (c) notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

“Thomas Wyatt Nigeria Plc which was one of the suspended companies has now filed its outstanding Interim Financial Statements to The Exchange.

“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”, the NSE stated in the notice.

IHEANYI NWACHUKWU

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.