Six listed companies on the local bourse violated the listing rules of the Nigerian Exchange Limited on unauthorised publication and undisclosed material information among others in 2022.
Nigerian Exchange Group Plc and Ecobank Transnational Incorporated defaulted rule 19.2 on disclosure for board meetings, amendments to the rules relating to board meetings and general meetings as well as the breach of exchange process for filing of financial statements. All six firms were sanctioned to undergo Mandatory Compliance Training.
NGX Regulation Limited stated in the report that “In accordance with the provisions of Appendix III: General Undertaking , Rulebook of NGX, 2015 and NGX’s Circular No. NSE/LARD/LRD/CIR3/17/05/12 on Publication of Announcements or Press Releases via the Issuers’ Portal, listed companies are required to obtain prior written approval from NGX RegCo before publications that affect shareholders’ interest are made in the media or via the Issuers’ Portal.
“In addition, companies are also required to disclose material information to NGX and publish the information in their Annual Reports.”All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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