NSE Lifts Suspension on Trading in the Shares of FTN Cocoa Processors

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NSE Lifts Suspension on Trading in the Shares of FTN Cocoa Processors

The Nigerian Stock Exchange has announced the lifting of the suspension it placed on trading in the shares of FTN Cocoa Processors Plc.

It said the firm and five others were suspended on October 8, 2018, for non-compliance with rule 3.1 of the Exchange (Issuers’ Rules) − rules for the filing of accounts and treatment of default filing.

In a statement signed by Head, Listing Regulation Department, Godstime Iwenekhai, it notified the Securities and Exchange Commission (SEC) and the Market upon the submission of the necessary Financial Statements document lifted the suspension on one of the companies involved.

FTN Cocoa Processors Plc. (the Company) which was amongst the companies suspended has submitted its outstanding Audited and Interim Financial Statements to The Exchange.

The statement said “In view of the submission of their respective accounts and pursuant to Rule 3.3 of the Default Filing Rules, which provides that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

It added, “The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension”; the general public is hereby notified that the suspension placed on the trading of the Company’s shares has been lifted effective today, 6 November 2018.”

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