Modupe Gbadeyanka
By Modupe Gbadeyanka
The board of directors of Access Bank Plc has announced a closed period for the trading in the financial institution’s securities on the floor of the Nigerian Stock Exchange (NSE).
A statement issued on Friday said the restriction period will begin from July 6, 2019 to when the lender releases the audited financial statements of the bank for the half year ended June 30, 2019.
Before the results are filed to the NSE, the board will have a meeting fixed for Friday, July 26, 2019, so as to scrutinise the books and possibly see if an interim dividend would be paid to shareholders.
“This is to inform the Nigerian Stock Exchange that a meeting of the Board of Directors of Access Bank Plc has been scheduled for Friday July 26, 2019 to consider and approve the company’s Audited Interim Financial Statements for the half year ended June 30, 2019.
“The payment of Interim Dividend may also be considered at the meeting.
“The Audited Accounts will be submitted to the Central Bank of Nigeria (CBN) for approval before release on the floor of the Nigerian Stock Exchange,” the statement said.
In order to prevent insider trading, which could make those having privileged information about the bank’s financials mop up or offload shares of the company at the stock market, the lender has prohibited some persons from trading in the firm’s securities.
“The company has also declared a Closed Period in respect of transaction on its securities from July 6, 2019 to such date as will be subsequently announced (both days inclusive) in compliance with the Listing Rules of the Nigerian Stock Exchange.
“Accordingly, no director, employee, person discharging managerial responsibility, adviser of the company and their connected persons may directly or indirectly, deal in the securities of the company in any manner during the Closed Period,” the statement signed by the lender’s scribe, Mr Sunday Ekwochi, said.
