The Nigerian Stock Exchange has notified the general public about the lifting of the suspension placed on trading in the shares of Omatek Ventures Plc.
According to a statement by the exchange “We refer to our Market Bulletin dated 5 July 2017, with Reference Number: NSE/LARD/LRD/MB02/05/07/17 wherein we notified Dealing Members of the suspension of seventeen (17) listed companies for non-compliance with Rules for Filing of Accounts and Treatment of Default Filing, which provides 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.”
Omatek Ventures Plc, one (1) of the seventeen (17) companies that was suspended on 5 July 2017, has now filed its outstanding financial statements with The Exchange.
In view of the Company’s submission of its outstanding financial statements, 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”, Dealing Members are hereby notified that the suspension placed on trading on the shares of Omatek Ventures Plc was lifted today, Tuesday, 31 December 2019.