These companies did not comply with the Nigerian Stock Exchange's financial statement filing guidelines

The Nigerian stock exchange has issued a statement stating that 13 companies that are listed on the exchange failed to file their financial statement documents on time. The unaudited financial statement was due on June 29th, 2020 as the extended date. Yet, the companies below did not turn in the documents that will inform investors of how they are running their businesses.

Table 1: Defaulting Companies

1. 
   
2. Aso Savings and Loans Plc
3. Deap Capital Management & Trust Plc
4. DN Tyre & Rubber Plc
5. FTN Cocoa Processors Plc
6. Goldlink Insurance Plc
7. International Energy Insurance Plc
8. Medview Airline Plc
9. Resort Savings & Loans Plc
10. Staco Insurance Plc
11. Standard Alliance Insurance Plc
12. UNIC Diversified Holdings Plc
13. Union Dicon Salt Plc 1
14. Union Homes Savings and Loans Plc

.

How to handle a situation like this when companies refused to file or delay filling. 

2.2.2, The Exchange hereby advises the investing public as follows:

a. A DFN has been issued against the aforelisted companies; and

Investors are advised to trade with caution on the securities of these companies in the absence

of up to date financial information on them.

The investing public is further advised that The Exchange will continue to engage with these companies

and may take the following additional steps should they fail to comply, and file their UFS within the ninety-day cure period stipulated by Rule 3.1 of the Rules, i.e. 27 September 2020:

a. Send to the aforelisted companies a “Second Filing Deficiency Notification” within two (2)

business days after 27 September 2020; and

b. Suspend trading in the companies’ securities.