NIGERIAN STOCK EXCHANGE TO DELIST ELEVEN COMPANIES.

Eleven quoted companies may soon be delisted from the Nigerian Stock Exchange while another eleven are under watch for deficiencies in free float requirements.
According to the X- Compliance report issued by the Exchange on October 26, most of the companies to be delisted requested for voluntary delisting. These include Tourist Company of Nigeria ( with the process already begun); Afrik pharmaceuticals, Union Dixon, Amino International, African Paints, Rokana Industries, Navitus Energy, Nigerian German Chemicals, Golden Guinea and FTN Cocoa
Those under watch include Aluminium Manufacturing, Mti PLC, UNIC, Adswitch, G Cappa, Goldlinj Insurance, UTC Nigeria, IPWA, West African Glass, Mtech and Allied Breweries.
According to the report, another 11  companies were on default in the submission of financials and reports including schedule one defaulters Multi trex  Integrated Foods and Roads Nigeria.
However seven companies got kudos for submitting 2014 financials ahead if schedule. They include Nigerian Breweries. Forte Oil, Guaranty Trust Bank, Zenith International. UBA, Guinness, African Prudential Registrars and LA Farge Africa.
From the report it was also learnt that about 49 companies were fined for defaulting on 2015 returns while companies like Union Diagnostic, Ecobank Transnational, Sterling Bank and LASACO were sanctioned for publishing unauthorized publications within the period covered by the report.

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