Home Business NSE Lifts Suspension on Universal Insurance Shares

NSE Lifts Suspension on Universal Insurance Shares

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The Nigerian Stock Exchange said on Monday that it had lifted the suspension of trading in the shares of Universal Insurance Plc.

The NSE said the company, which was one of the eight companies suspended early this month, had submitted its audited financial statement for the year ended December 31, 2017.

It said, “In view of the submission of its 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.

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 in the trading of the company’s shares has been lifted effective today, July 30, 2018.”

A statement from the Head, Listings Regulation Department, NSE, Godstime Iwenekhai, noted that the NSE, in its Market Bulletin dated July 5, 2018, notified the public of the suspension of eight listed companies for non-compliance with Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of the Exchange.

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