Access Holdings Plc Faces Regulatory Hurdles, Seeks Extension for Audited Interim Financial Statements

Access Holdings Plc, a prominent player in the financial sector, has announced a potential delay in the publication of its Audited Interim Financial Statements for the Half Year ended June 30, 2023.

The company’s request for an extension to the Nigerian Exchange Limited (NGX) has shed light on regulatory challenges it faces, affecting the timeline for disclosing crucial financial information to the investing public.

The delay stems from the company’s request, granted on August 14, 2023, by NGX for the Audited Interim Financial Statements to be filed no later than September 15, 2023, pending approval from the Central Bank of Nigeria (CBN). These post-audit completion matters have triggered a series of events that Access Holdings Plc is now navigating.

In compliance with NGX’s approval, Access Holdings Plc promptly submitted the Audited Interim Financial Statements to the CBN for its review. However, the length of time estimated for the CBN to conduct a thorough examination of the submitted documents has led the company to anticipate a potential inability to meet the initial publication deadline of September 15, 2023.

As a result of these circumstances, Access Holdings Plc has taken proactive steps by seeking and securing an extension to file the Audited Interim Financial Statements. The new deadline for publication is set for September 30, 2023, subject to CBN’s approval of the Results.

This extension will allow the company to ensure a complete and accurate representation of its financial health for the first half of the year.

In light of these developments, Access Holdings Plc’s insiders are reminded that the previously declared closed period in respect of transactions involving the company’s securities will remain in effect.

This closed period will continue until 24 hours after the release of the Audited Interim Financial Statements, emphasizing the company’s commitment to maintaining transparency and fairness in its dealings.

Access Holdings Plc remains dedicated to resolving the regulatory hurdles it faces and fulfilling its obligations to the investing public. The company will continue to work closely with NGX and CBN to ensure a smooth and timely publication process for the Audited Interim Financial Statements.

Investors and stakeholders are advised to stay updated on further developments as Access Holdings Plc strives to navigate these regulatory challenges and deliver accurate financial information to the market.