NSE lifts trading suspension placed on RT Briscoe shares

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The Nigerian Stock Exchange (NSE) yesterday, lifted the suspension earlier placed on trading in the shares of R.T. Briscoe Nigeria Plc. 

In a notice sent to the investing community, the NSE referred to its Market Bulletin dated September 1, 2020, with Reference Number: NSE/RD/LRD/MB43/20/09/01, wherein it notified dealing members of the suspension of six (6) listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange (Issuers’ Rules) (Default Filing Rules).

It said, “the Default Filing Rule provides that; “If an issuer fails to file the relevant accounts by the expiration of the Cure Period1, the Exchange will: send to the Issuer a “Second Filing Deficiency Notification” within two (2) business days after the end of the Cure Period; Suspend trading in the Issuer’s securities; and notify the Securities and Exchange Commission (SEC) and the Market within twenty- four (24) hours of the suspension.”

The NSE said R.T. Briscoe Nigeria Plc has now filed its outstanding financial statements.

“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 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 were initially notified of the suspension, that the suspension has been lifted”, Dealing Members of the NSE was notified on Monday, September 28.

Meanwhile, sentiments on the floor of the NSE remained upbeat as market capitalisation rose by N99 billion to close at N13.853 trillion. With the resumption of trading on Monday, analysts had predicted a sustained positive performance for the week, thus, investors continued to renew their interest in equities due to low yield in the fixed income space. Price appreciation in MTNN, Wapco and FBN Holdings saw the All-Share Index (ASI) rise by 0.72 per cent to 26,507.84 points, while year-to-date (ytd) return improved to -1.2 per cent.

Source: THE SUN

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