Briclinks Africa announces late filing of 2020, Q1 2021 results
By Kayode Tokede
Briclinks Africa Plc has announced to Nigerian Exchange Limited (NGX) and stakeholders the late filing of 2020 audited and first quarter ended March 31, 2021 financial statement.
Briclinks Africa’s Chief Technology Officer, Paul Nwigwe in a statement explained that the newly listed company had employed new staff to strengthen its Accounts departments as well as the Company’s operations which resulted in delay in completing the preparation of the Company’s 2020 results.
According to Nwigwe, “The Board and Management of Briclinks Africa wishes to inform the Nigerian Exchange Limited, the Company’s shareholders and the general public of the reason for the delay in filing of the Company’s Audited Financial Statements for the year ended 31st December 2020 (2020 AFS) and the first quarter unaudited Financial Statements for the quarter ended 31st March 2021 (2021 Q1 UFS) by the regulatory due dates.
“As a newly listed Company on the Exchange, the Company carried out a recruitment exercise to strengthen its Finance and Accounts Departments as well as the Company’s operations which resulted in delay in completing the preparation of the Company’s 2020 AFS.
“The Company clearly understands the implication of this delay to its shareholders and is optimistic that the 2020 AFS and 2021 Q1 UFS will be filed via the Issuers’ Portal of the Exchange on or before 30th May 2021.
“The Company apologizes for any inconveniences caused by the delay.”
The Exchange in February admitted Briclinks Africa to its Growth Board in a listing by introduction of 10 million (10,000,000) ordinary shares of N1.00 each at N6.26 per share.
The listing was commemorated with a digital Closing Gong ceremony where the Chief Executive Officer, Briclinks Africa, Mr. Mohammed Buhari had the honour of bringing the day’s trading to an end.
Speaking at the ceremony, the Chief Executive Officer, NSE, Mr. Oscar Onyema, stated, “We are delighted to welcome Briclinks Africa Plc to The Exchange. This listing is a milestone in our desire to accommodate small and medium-sized enterprises (SMEs) that hitherto have been underrepresented in public markets.
“It is indeed a critical step in the NSE’s efforts towards greater representation of growth companies on the bourse. With this listing, we encourage Briclinks Africa Plc as it commences life as a publicly quoted company to continue to abide by its post listing obligations whilst striving for transparency as this would ultimately create value to shareholders.”
On his part, Mr. Mohammed Buhari commented, “It is with great pleasure that we at Briclinks Africa Plc attend this special event to mark our Listing on the Growth Board of the NSE. We have dreamt about this day and worked towards it with effervescence right from the moment we decided to be listed on the NSE about 17 months ago.
“We have from this process emerged as a better entity well-tuned to corporate best practices and culture. We would like at this point to thank our Financial Advisers to the Listing, Afrinvest Securities, and the NSE team for their untiring support and guidance in making this day a reality.”
