By Dipo Olowookere
The board of Stanbic IBTC Holdings Plc has informed investing public and the Nigerian Stock Exchange (NSE) that its closed period will commence shortly.
In a notice to the stock market regulatory agency on Monday, the company disclosed that the closed period will begin on Saturday, December 1. 2018.
According to the statement signed by the company’s secretary, Chidi Okezie, the closed period to end until the release of the 2018 full year financial statements.
“In accordance with the provisions of Rule 17.18(b) of the Nigerian Stock Exchange Rule Book (the Rules), we would like to notify the Exchange that the closed period for Stanbic IBTC Holdings Plc will commence with effect from December 1, 2018 and the closed period will continue to be in place until the full year 2018 results of the company are released,” the statement said.
It added that, “We would also like to note that in accordance with the Rules and our internal Personal Account Trading Policy, we will be advising all embargoed individuals that they are prohibited from trading in the shares of the company during the closed period.”
A close period is the time period between the completion of a listed company’s financial results and the announcing of these results to the public.
Those who have privileged information about a company trading its shares on the stock exchange are prohibited from transactions during this period so as not to give them an undue advantage.
Adedapo Adesanya