NSE suspends Thomas Wyatt Nigeria shares over market infraction

By Kayode Tokede

The management of the Nigerian Stock Exchange (NSE) has suspended trading in the shares of Thmas Wyatt Nigeria Plc over its failure to comply with post listing requirements.

The company has failed to file its audited financial statements for the year ended March 31, 2020.

According to the Exchange, “Pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (“Default Filing Rules”), which provides 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.”

“The shares of Thomas Wyatt Nigeria Plc (Thomas Wyatt) has been suspended from trading via the facilities of The Exchange, effective today, Wednesday, 6 January 2021 having failed to file its Audited Financial Statements for the year ended 31 March 2020.

“In accordance with the provisions of the Default Filing Rules set forth above, the suspension of trading in the shares of Thomas Wyatt will only be lifted upon the submission of the relevant accounts and provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.”