Lagos — The Nigerian Stock Exchange (NSE) has lifted the suspension of trading on shares of Sovereign Trust Insurance, one of the seventeen (17) listed companies for non-compliant with Rules for Filing of Accounts and Treatment of Default Filing.
The NSE confirmed in a notice on its website that Sovereign Trust Insurance Plc which was one of the companies suspended, submitted its audited accounts for the period ended 31 December 2016 on 5 July 2017.
The NSE had in its bulletin stated that the suspension of the companies would be lifted upon the submission of the relevant accounts.
"In view of the submission of the relevant accounts and our satisfaction that the accounts complied with our applicable rules, the Exchange has lifted the suspension of trading in the shares of Sovereign Trust Insurance Plc. The Public is hereby notified that pursuant to Rule 3.3, Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of The Exchange which states 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, that the suspension has been lifted. The suspension of trading in the shares of Sovereign Trust Insurance Plc has been lifted today, 11 July 2017," read the notice.