By Dipo Olowookere
Three companies trading its shares on the floor of the Nigerian Stock Exchange (NSE) are presently on the delisting watchlist of the stock exchange, Business Post has learnt.
According to the X-Compliance Report of the NSE released at the weekend, which was obtained by this newspaper, the Quotations Committee of the National Council of the Nigerian Stock Exchange (QCN) placed two of the three firms on the watchlist subject to their filing of Quarterly Compliance Report.
Business Post gathered that the QCN approved Deap Capital Management Plc and Evans Medical Plc to be placed on delisting watchlist subject to filing Quarterly Compliance Report, while an approval was given for The Tourist Company of Nigeria Plc to be placed on regulatory watchlist.
Recall that in January 2018, a total of six companies were placed on delisting watch-list by the industry regulator.
The affected firms had failed to comply with the corporate governance rules and they were African Paints (Nigeria) Plc, Afrik Pharmaceuticals Plc, Aso Savings & Loans Plc, Deap Capital Management Plc, Evans Medical Plc, and Union Homes Savings & Loans Plc.
Meanwhile, the Compliance Reports also revealed that Anino International Plc, FTN Cocoa Processors Plc, Golden Guinea Breweries Plc and Goldlink Insurance Plc all obtained NSE’s approval to restructure.
However, the NSE Council gave an approval for Aso Savings & Loans Plc to be placed on restructuring subject to filing Quarterly Compliance Report.
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