The
Nigerian Stock Exchange has placed 13 companies on full suspension over
their failure to meet up with the Exchange’s post listing requirements.
The Exchange said the companies were suspended
because they failed to submit their financial results for the year ended
December 2010 and March 2011.
A statement placed on the NSE website on Wednesday
noted that affected companies cut across the insurance, construction and
packaging, food/beverages, footwear, chemical and paints and mortgages
sub-sectors.
For failing to submit their accounts for the year
ended, December 2010, Union Dicon Salt Plc, IPWA Plc, African Alliance
Insurance Plc, Lennards Plc, MTI Plc, Investment and Allied Assurance
Plc, Aluminium Manufacturing Company of Nigeria Plc, West African Glass
Plc and Afroil Plc were placed on full suspension.
Union Homes Savings and Loans Plc, G. Cappa Plc,
Costain (West Africa) Plc, and Poly Products Plc were suspended for
their failure to submit their financial statements for the year ended,
March 2011.
By the full suspension, trading in the shares of the companies will be suspended till further notice.
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