By Dipo Olowookere
The board of United Bank for Africa (UBA) Plc has disclosed that it would not able to submit the company’s financial statements for the period ended June 30, 2019 at the required time.
Firms listed on the Nigerian Stock Exchange (NSE) are expected by the listings rules to file their half year reports on or before July 31, which is 30 days after the end of the period.
But UBA, in a statement issued on Tuesday, said it would not be able to do meet this deadline.
The reason for this, from what Business Post gathered, is because the company is auditing the half year financial statements before being forwarded to the Central Bank of Nigeria (CBN) for approval.
In a statement signed by its Group Company Secretary, Bili Odum, it was stated that, “United Bank for Africa Plc wishes to inform the Nigerian Stock Exchange, its shareholders and the investing public that in line with prior years, the 2019 Half Year Results of the bank are being audited.
“Consequently, the audited 2019 Half Year Financial Results will be published beyond the Nigerian Stock Exchange (NSE) deadline of July 30, 2019 for filing the Half Year Financial results.”
Business Post reports that shares of UBA went down today at the stock market by 10 kobo or 1.69 percent to N5.80k per unit.
