NSE Lifts Suspension On Afromedia Shares Trading

The Nigeria Stock Exchange (NSE) has lifted the suspension placed on the trading in the shares of Afromedia Plc.
The Exchange had suspended the company on April 9th 2018 for non-compliance with Rule 3.1, for filing of Accounts and Treatment of Default.
According to the report at the Exchange’ the reference number of the suspension, ‘‘NSE/REG/LRD/MB01/18/04/09, notified the dealing members and the general public.
Afromedia Plc has now filed its outstanding Financial Statements to the Exchange. In view of the submission of the company’s 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 shell 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 in the trading of the shares of Afromedia Plc was lifted.
The notice bearing the lifting of the suspension was signed by Elizabeth Ekpo for the Head, Listings Regulation Department of NSE.
Meanwhle, investors at the floor of the exchange traded a total of 374, 026,184 shares at N3.057 billion in 3,634 deals.
All share index closed at 29, 149.46 points while market capitalisation recorded N10.949 trillion.