By Modupe Gbadeyanka
The board of Cadbury Nigeria Plc has announced the commencement of a closed period on the floor of the Nigerian Stock Exchange (NSE).
According to a statement signed by the Company Secretary, Fola Akande, the restriction in the trading of the firm’s shares at the stock exchange by a set of people began on February 28 and will end on March 21, 2019.
By the time the restriction is lifted, the beverage company would have released its 2018 Audited Financial Statements to the investing public.
Cadbury Nigeria noted that during the closed period, “Directors, audit committee members, staff members and other interested parties who have regular access to Cadbury Nigeria Plc financial information or other sensitive information which may materially affect the price of the securities of the company, should observe this earnings-related closed trading period and not buy or sell Cadbury Nigeria Plc shares.”
The firm explained that this step was taken “in compliance with the rules of the Nigerian Stock Exchange,” which are also “spelled out in our C-14-lnsider Trading.”
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