Chinwendu Obienyi
The Nigerian Stock Exchange (NSE), yesterday, announced the lifting of the suspension placed on trading in the shares of FTN Cocoa Processors Plc.
According to a filing obtained from the NSE website, the Exchange had notified the Securities and Exchange Commission (SEC) and the investment community of the suspension in trading in the shares of the listed company and 10 other companies over default in filing of accounts as and when due.
The Exchange stated that FTN Cocoa Processors Plc has now filed its Audited Financial Statements for the year ended December 31, 2018 as well as its first, second and third quarter financial statements for 2019 with the Exchange.
“In view of the company’s submission of its Audited Financial Statements, and pursuant to Rule 3.3 of the Default Filing Rules, which provides that: ‘The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided the NSE is satisfied that the accounts comply with all applicable rules of the Exchange.
“The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”, dealing members are hereby notified that the suspension placed on trading on the shares of FTN Cocoa Processors Plc was lifted today, Tuesday, December 10, 2019.”
Meanwhile, the market capitalisation of NSE, at the close of trading on Tuesday, fell by N143 billion as the nation’s bourse recorded another bearish outing due to sell-offs in Nestle, MTNN and Dangote Cement.
Similarly, the All Share Index (ASI) dipped 0.11 per cent to settle at 26,384.21 points while year-to-date (YTD) performance and market capitalisation worsened to -16.1 per cent and N12.734 trillion.