The Nigerian Exchange Limited (NGX) has suspended the trading in the shares of Chellarams Plc for failing to file its Auidted Financial Statements for the year eneded 31, March 2021 after the expiration of the Cure Period.
In a letter released by the Exchange, the suspension Chellarams Plc will only be lifted upon the submission of the relevant accounts, provided NGX Regulation Limited is satisfied that the accounts comply with all applicable rules of the Exchange.
“Trading License Holders and the Investing Public are hereby notified that pursuant to Rule 7.1(b): Rules for Listing on the Growth Board of the Nigerian Exchange Limited (the Exchange) (Growth Board Rules) which states 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 (2) 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 twenty- four (24) hours of the suspension”,
Trading in the shares of Chellarams Plc was suspended from the facilities of the Nigerian Exchange Limited (the Exchange) effective, Thursday, 30 September 2021 having failed to file its Audited Financial Statements for the year ended 31 March 2021 after the expiration of the Cure Period. In accordance with the Growth Board Rules set forth above, the suspension of trading in the shares of Chellarams Plc will only be lifted upon the submission of the relevant accounts, provided NGX Regulation Limited is satisfied that the accounts comply with all applicable rules of the Exchange.