Dipo Olowookere
By Dipo Olowookere
The board of Unilever Nigeria Plc has announced a closed period for the trading of its shares on the Nigerian Stock Exchange (NSE).
A notice to the stock market regulator disclosed that those with sensitive information about the financials of the firm will not have the opportunity to transacted stocks of the company on the NSE for a given period of time.
According to the notice, the closed period would be observed from Thursday, February 28, 2019, until Monday, April 1, 2019 or 24 hours after filing of the Audited Financial Statements for year ended December 31, 2018.
The closed period is to prevent those armed with such sensitive information from having an undue advantage over other investors at the market.
The stock exchange management frowns as such, which is consider as insider trading and is punishable if discovered to have happened.
“We hereby give the Nigerian Stock Exchange and the investing public notice of the Closed Period for Unilever Nigeria Plc. from Thursday 28 February until Monday 1 April, 2019 or 24 hours after filing of the Audited Financial Statements for Year ended 31 December 2018, whichever is earlier.
“All Unilever Nigeria Plc insiders will be duly informed,” the notice signed by Mrs Abidemi Ademola, the company’s General Counsel, said.Business Post reports that shares of Unilever Nigeria were traded on the local exchange today at N41 per unit.
