Goldlink Insurance Plc has notified the Nigerian Stock Exchange (NSE) that it would be unable to meet the statutory deadline for filing its Audited Financial Statements (AFS) for the year ended December 31, 2018 within the due date of March 31, 2019.
According to the Exchange rules on filing of accounts and treatment of default filing, “where an issuer has a reasonable belief that it will not be able to file its accounts by the relevant due date, the issuer may, before the due date, submit an application for an extension of time, supported by compelling reasons and evidence in support of its inability to file its accounts by the due date.”
In a statement sent to NSE, the company’s inability to file its 2018 AFS is as a result of delay it encountered in completing the audits of the 2016 and 2017 accounts, which has ultimately impacted on the audit of 2018.
It added that the ongoing restructuring in the company and the need to stabilise the company by the National Insurance Commission (NAICOM) that took over the management of the company has also delayed the audit process.
“Please be assured that the company will file its 2018 AFS well enough in time to convene its Annual General Meeting (AGM) on or before June 30, 2019 and sincerely regrets any inconveniences the delay might cause our shareholders and the investing public. We would like to provide the assurance that we are committed to adhering to best corporate practices at all times,” the statement said.
The NSE lifted the trading suspension placed on the shares of Goldlink Insurance Plc for not filing the company accounts in accordance with the post-listing requirements of the exchange.