Stock Exchange lifts suspension placed on trading in shares of Omatek

The Nigerian Stock Exchange (NSE) on Tuesday December 31, 2019 lifted the suspension it earlier placed on trading in shares of Omatek Ventures Plc.
Omatek Ventures Plc is one of the 17 companies that were suspended on July 5, 2017. The NSE had in its market bulletin dated 5 July 2017 notified Dealing Members of the suspension of 17 listed companies for non-compliance with 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.

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The Exchange will: send to the Issuer a ‘Second Filing Deficiency Notification’ within 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.The company is said to have filed its outstanding financial statements with The Exchange, according to a circular signed by Godstime Iwenekhai, Head, Listings Regulation Department.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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