WorldStage Newsonline– The Nigeria Exchange Limited (NGX) has approved the Notore Chemical Industries Plc’s free float compliance extension request for two years (2023- 2025).
Board of Directors of Notore in a notice at the NGX said the reuest for extension was to enable the Company comply with the NGX’s free float requirement for companies listed on its Main Board and to ensure that the Company returns to its post-listing obligations.
“This is in line with Rule 3.1.4 of The Exchange’s Rules Governing Free Float Requirements, which states that “The Exchange may suspend trading in the company’s securities if the company does not achieve the required free float within the stipulated timeframe”, the notice said.
“The Company’s Board and Management steadfastly uphold good corporate governance principles, demonstrating a resolute commitment to rectifying the free float deficiency within the prescribed timeline set forth by NGX Regulation Limited (NGX RegCo), failing which NGX RegCo may suspend trading in its securities. We are diligently working towards ensuring compliance to maintain the integrity of our trading environment.”
