Nigerian Exchange Suspends Trading in Thomas Wyatt Shares

By Dipo Olowookere

Trading in the shares of Thomas Wyatt Nigeria Plc on the Nigerian Exchange (NGX) Limited has been suspended, Business Post reports.

This action followed the company’s violation of NGX listing rules concerning the filing of financial statements for the perusal of the investing public.

In a notice to the market last Tuesday, the stock exchange said the board of Thomas Wyatt has failed to publish the financial results of the organisation for the year ended March 31, 2024, and two quarters of June 30, 2024, and September 30, 2024.

It was stated that securities of the company would only be allowed on Customs Street when the board do the needful.

“Trading license holders and the investing public are hereby notified that pursuant to the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that: if an issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.

“Trading in the shares of Thomas Wyatt Nigeria Plc has been suspended from the facilities of Nigerian Exchange effective Tuesday, February 11, 2025, for not filing their audited financial statements for the year ended March 31, 2024, and unaudited financial statements for the periods ended June 30, 2024, and September 30, 2024.

“In accordance with the default filing rules set forth above, the suspension of trading in the shares of the company shall be lifted upon the submission of the relevant financial statements,” the disclosure stated.