NSE Lifts Suspension On Shares Of Three Firms One Year After
The Nigeria Stock Exchange in Lagos

The Nigerian Stock Exchange (NSE) has lifted the ban it placed on the shares of Premier Paints as well as three other companies.

This was revealed by the NSE Head of Listings Regulation Department Godstime Iwenkhai in a statement on Tuesday.

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The ban was placed on the companies about a year ago for failure to comply to best corporate governance practices and refusal to submit their accounts and operational reports.

Concise News reports that the companies are Ekocorp Plc, Austin Laz & Company Plc and Academy Press Plc.

Premier Paints and Ekocorp were suspended on July 5, 2017; Austin Laz on August 2, 2017, and Academy Press on October 4, 2017.

“Premier Paints Plc, Ekocorp Plc, Austin Laz & Company Plc and Academy Press Plc, which were among the companies suspended, have submitted their respective financial statements,” the statement said.

“In view of the submission of the company’s accounts and pursuant to rule 3.3 of the default filing rules, which provides that ‘the suspension of trading in the issuer’s securities will be lifted upon submission of the relevant accounts provided the Exchange is satisfied that the accounts comply with all applicable rules of the Exchange.’”

He added: “The general public is hereby notified that the suspension placed in the trading of the company’s shares has been lifted, effective Tuesday, November 6, 2018.”