NSE Lifts Suspension on Trading in RT Briscoe Shares

Briscoe Nigeria shares

By Dipo Olowookere

The suspension earlier placed on the trading in the shares of RT Briscoe Nigeria Plc has been lifted by the Nigerian Stock Exchange (NSE).

The embargo, which was removed on Friday, now enables stocks of the company to be traded on the floor of the exchange.

The hammer was initially slammed on the auto firm earlier this month because the company, along with five others, failed to submit its financial statements to the NSE as required.

The five others suspended by the exchange were FTN Cocoa Processors, Medview Airline, Niger Insurance, Union Dicon and Capital Oil.

After submitting the required financial results, the NSE lifted the suspension on RT Briscoe Nigeria, making it possible for shareholders to trade the stocks again.

A notice from the NSE confirmed this development in a notice to the market on Friday.

“R.T. Briscoe Nigeria Plc, one of the six listed companies that were suspended on September 1, 2020, has now filed its outstanding financial statements with the exchange.

“In view of the company’s submission of its outstanding financial statements, and pursuant to Rule 3.3, of the Default Filing Rules, which states that; the suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided the exchange 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, that the suspension has been lifted, dealing members are hereby notified that the suspension placed on trading on the shares of the R.T. Briscoe Nigeria Plc was lifted today, Friday, September 25, 2020,” the disclosure said.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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