The Board and Management of Ardova Plc (Ardova) has allayed concerns over the recent suspension of trading of the company’s securities on the Nigerian Exchange Limited (NGX) over the late filing of its 2021 Audited Financial Statements.
In a statement signed by Oladeinde Nelson-Cole, Company Secretary, Ardova noted that the delay in submission of its 2021 Audited Financial Statements was primarily due to the accounting reconciliations that followed the acquisition of Enyo Retail and Supply Limited (ERSL), a transaction which was concluded in November 2021.
Read also: NGX suspends trading in shares of Ardova, C&I Ieasing, Mutual Benefit, 6 others
“Enyo’s accounting has now been harmonized with the IFRS accounting standard already in place at Ardova Plc, following which the group’s Consolidated Financial Statements were completed and duly audited.
“These audited financial statements were approved by Ardova’s Board of Directors following its meeting on June 29, 2022, and will be filed with the NGX on or before July 8, 2022. In accordance with NGX rules, we expect that the suspension of trading will be lifted upon submission,” the statement reads.
The Board and Management apologised for inconvenience caused by this administrative circumstance and reassured its stakeholders that Ardova Plc remains committed to the highest standards of compliance and corporate governance.
