NSE may sanction Oando over delay in filing report
The Nigerian Stock Exchange (NSE) has announced that it is currently reviewing the situation regarding the delayed filings of the Audited Financial Statements (“AFS”) of Oando Plc for the year ended 31 December 2014 and its Q1 and H1 delayed filings.
According to the NSE, “The Exchange is greatly concerned about the delayed filings and the significant losses which were posted for the 2014 fiscal year and the first three (3) quarters of 2015.
“It will be recalled that on 23 October 2015, Oando filed its 2014 AFS as well as its Q1 and H1 2015 interim unaudited accounts with the Exchange. Oando’s filing of its AFS and interim accounts followed several engagements with The Exchange both before and after the due dates for these filings.
” As part of the engagements, The Exchange directed that Oando’s top Management should discuss the delay with the Dealing Clerks on the trading floor of The Exchange on 23 October 2015.
” Oando made the filings just before the meeting, during the interaction with Dealing Clerks, the CEO of Oando, Wale Tinubu, committed to holding a Facts Behind the Figures (FBF) session on Monday, 26 October 2015 at The Exchange.
“The FBF held as scheduled, with attendance from the media, representatives of shareholders’ associations and Dealing Members of The Exchange. Oando filed its Q3 interim unaudited accounts on 26 October 2015.”