The management of Royal Exchange Plc on Friday informed its esteemed shareholders, key stakeholders and the investing community that the company will be unable to submit its first-quarter (Q1) Unaudited Financial Statements (Q1 UFS) for the period ended March 31, 2022 within the extended time of June 29, 2022, as granted to the Company by Nigerian Exchange Limited (NGX); and the Q2 Unaudited Financial Statements (Q2 UFS) for the period ending June 30, 2022, within the Regulatory due date of July 30, 2022.
“As a holding Company with three (3) different subsidiaries, the year end audit exercise for the Group is yet to be concluded, as our insurance and finance subsidiaries are awaiting regulatory approvals from their various regulators (National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN),” Royal Exchange Plc noted in statement signed by Ngozika Onu for Mazars Ojike and Partners, the Company Secretaries.
Read also: Stocks lose over N760bn in holiday-shortened week
Royal Exchange Plc further noted in the statement at the Nigerian Exchange Limited (NGX) that, “Once all the subsidiaries have obtained approvals for their respective financial statements, consolidation of the Group’s accounts for the year ended December 31, 2021 will be concluded and released to the public including the 2022 Q1 UFS and Q2 UFS on or before July 29, 2022,”.
