On 4 November 2014, the Quotations Committee of the National Council of The Nigerian Stock Exchange granted eighteen (18) companies a period of twelve (12) months stay of action on The Exchange’s delisting process to regularize their listing status. During the twelve month period, the companies are required to file quarterly progress reports updating The Exchange about their activities and various steps they are taking towards fulfilling their post listing obligations.
However, the companies listed below have failed to take any steps to regularize their listing status and The Exchange will proceed with the delisting process effective 13 July 2015. The companies to be delisted are:
1. Nigerian Sewing Machine Manufacturing Plc
2. Stockvis Plc
3. Nigeria Wire & Cable Plc
The Exchange will continue to engage the remaining fifteen (15) companies that have taken steps towards regularizing their listing statuses with a view to bringing them into compliance with their post listing obligations.