Oando, Others Violate NGX Post-listing Requirement, Fails to Submit 2021 FY Results Kayode Tokede A total of 15 companies have defaulted on the post-listing requirement of the Nigerian Exchange Limited (NGX) by falling to submit thei
A total of 15 companies have defaulted on the post-listing requirement of the Nigerian Exchange Limited by falling to submit their 2021 financial year statements to investing public as required by the NGX in its post listing rules, THISDAY finding have revealed.
Findings by THISDAY revealed that some of the above named companies have not submitted over four years financial statements to the bourse. According to information obtained from Rak Unity Petroleum’s full-year 2020 financial year result, Toparte Nigeria Limited owns a total of 48,131,159 units of shares, which amounts to about 85 per cent of the total shareholding. This leaves other investors , with just 8,493,734 units of shares .
Also, the airline has been among companies listed on the NGX’s free float deficiencies of 14.16 per cent. The indigenous petroleum company on the NGX recently had its audited 20018 Annual General Meeting and the 2019 audited results was released to the investing public. In a chat with THISDAY, the Chairman, of Progressive Shareholders Association of Nigeria, Boniface Okezie, said “shareholders have been communicating with most of these companies and the feedback is always the same. Is either they have not gotten approval from SEC or we are working on it. There is nothing shareholders can do but wait until audited results are released.