NSE lifts suspension on trading in shares of R.T. Briscoe

The Nigerian Stock Exchange (NSE) has lifted the suspension earlier placed on trading in the shares of R.T. Briscoe (Nigeria) Plc. R.T. Briscoe (Nigeria) Plc is one of the 11 companies that were suspended on July 2 2019.

The NSE had on July 2, 2019 notified Dealing Members of the suspension of 11 listed companies for non-compliance with its Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing which provides that: “If an Issuer fails to file the relevant accounts by the expiration of the Cure Period, The Exchange will: send to the Issuer a “Second Filing Deficiency Notification” within two business days after the end of the Cure Period; suspend trading in the Issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the Market within 24 hours of the suspension.”

R.T. Briscoe (Nigeria) Plc has now filed its audited financial statements for the year ended December 31, 2018, the NSE said in its Wednesday September 18 note signed by Godstime Iwenekhai, Head, Listings Regulation Department.

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In view of the Company’s submission of its Audited 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 were notified that the suspension placed on trading on the shares of R.T. Briscoe (Nigeria) Plc was lifted on Wednesday September 18, 2019.

Iheanyi Nwachukwu

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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.