NGX lifts suspension on trading in shares of C & I Leasing

…three months after

The Nigerian Exchange Limited (NGX) on Friday lifted the suspension it earlier placed on trading in the shares of C & I Leasing Plc.

The Exchange had in its market bulletin dated July 11, 2023 with Reference Number:
NGXREG/LRD/MB26/23/07/11 notified Trading License Holders and the investing public of the suspension in the trading on the securities of C & I Leasing Plc (C & I Leasing or the Company) for non-compliance with the provisions of Rule 3.1: Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (Default Filing Rules)

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The Rule 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 (2) 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.”

“C & I Leasing Plc, whose securities were suspended on July 11, 2023, has now filed its outstanding financial accounts,” the NGX noted.

“In view of the Company’s submission of the outstanding financial statements, and pursuant to Rule 3.3 of the Default Filing Rules, which states 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.

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“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted”, Trading License Holders and the investing public are hereby notified that the suspension placed on trading on the shares of C & I Leasing Plc was lifted on October 12, 2023,” the NGX further noted.