SEC suspends Oando shares over allege irregularities

microsoft office 2007 buying microsoft office 2007 cheap By Newsdesk

my dreamland essay The Securities and Exchange Commission (SEC) has directed the Nigerian Stock Exchange (NSE) to fully suspend trading in the shares of Oando Plc over alleged irregularities in business activities.

Essay About Teachers According to SEC, the suspension would not commence until another 48 hours but before the hours stipulated by law ends, the company would be expected to undergo technical suspension.

http://www.rieticultura.net/?csr-activites-consumer-perception-dissertation-thesis csr activites consumer perception dissertation thesis A technical suspension is the interruption of price movement in a listed security for a period so that any dealings in the securities which occur during the period of the suspension will not result in any change in price, which change may have occurred had the suspension not been implemented.

follow link The full suspension, which takes effect on Friday, was sequel to two petitions forwarded to SEC by Dahiru Barau Mangal and Ansbury Incorporated, alleging that the company had breached some agreements and the commission’s laws.

do my microeconomics essay for me According to the statement made available to TheGuild on Wednesday, some of the allegations were: Breach of the provisions of the Investments & Securities Act 2007, Breach of the SEC Code of Corporate Governance for Public Companies, Suspected insider Dealing, Related party transactions not conducted at arm’s length, discrepancy in the shareholding structure of Oando Plc and others.

During the suspension, there will be no trading in the shares of Oando Plc. Thereafter, effective 20 October 2017, investors will be able to trade in Oando Plc’s shares but such trading will not result in any movement in the price of the shares, said a notice by GTI Securities to clients.

dissertation sur la videosurveillance “The Commission notes that the above findings are weighty and therefore needs to be further investigated.  After due consideration, the Commission believes that it is necessary to conduct a forensic audit into the affairs of Oando Plc. This is pursuant to the statutory duties of the Commission as provided in section 13(k), (n), (r) and (aa) of the ISA 2017.

http://kkkreation.com/?p=essay-writing-companies-uk “To ensure the independence and transparency of the exercise, the Forensic Audit shall be conducted by a consortium of experts made up of auditors, lawyers, stockbrokers and Registrars.

year of secret assignments “To further ensure that the interest of all shareholders of Oando Plc are preserved during the course of the exercise, the Commission directed the Nigerian Stock Exchange to place the shares of Oando Plc on technical suspension.

follow site “However in view of the fact that it is not technologically feasible for the Exchange to effect a technical suspension except after 48 hours, the Commission directed as follows;

http://skbioextracts.com/optimization-phd-thesis/ “Effective for 48 hours from today, 18 October 2017 to 20 October 2017, The Nigerian Stock Exchange should implement a full suspension in the trading of the shares of Oando Plc,” it added.

Investment expert predicts mixed performance for Nigerian stock market

to do your homework http://1907.ch/?umi-thesis-purchase By Jide Ajia

http://occasionzgifts.com/?p=dissertation-writing-services-malaysia-custom The Chief Operating Officer, InvestData, Ambrose Omordion, has predicted that activities at the nation’s exchange market in current week would be trailed with profit taking following fund managers window dressing.

Omordion added that the  market would witness profit taking after month-end dressing by fund managers and experience mixed performance due to expected account rebalancing by fund managers which would lead to profit taking in preparation for the month of August.

The investment expert, who spoke to journalists in a short interview on Monday, stated that the mixed performance would not last for longtime due to investors’ anticipation of more improved half year earnings yet to be released in the market.

He attributed recent market growth to investors’ last minute positioning for earnings expectations, adding that most of the earnings released last week beat market and analysts expectations.

He noted that positive economic data released by the National Bureau of Statistics (NBS), contributed to the market growth; Omordion, however, called for quick implementation of the 2017 budget to sustain the market and economic growth.

Meanwhile, at the close of first trading day for the week, a turnover of 2.21 billion shares worth N30.64 billion exchanged in 26,287 deals as against 3.63 billion shares valued at N34.89 billion were transacted in 19,834 deals.

Checks on daily trading statistical data showed that Financial Services industry led the activity chart with 1.74 billion shares worth N19.04 billion traded in 14,626 deals and contributed 78.45 per cent and 62.16 per cent to the total equity turnover volume and value respectively during the review period.

The Conglomerates sector followed with a turnover of 165.39 million shares worth N454.24 million achieved in 1,400 deals, while third place was occupied by Consumer Goods Industry with a turnover of 135.80 million shares valued at N6.68 billion exchanged in 4,143 deals.

As a result, the All-Share Index during the review period rose by 2,844.34 points or 8.36 per cent to close at 36,864,71, when compared with 34,020.37 posted in the previous week due to massive gains.

Also, the market capitalisation which opened at N11.725 trillion appreciated by N980 billion or 8.36 per cent to close at N12.705 trillion.

A breakdown of the price movement table showed Conoil led the gainers’ table in percentage terms, gaining 21.41 per cent or N6.42 to close at N36.40 per share, Presco followed with a gain of 20 per cent or N12.20 to close at N73.20, while Dangote Sugar Refinery increased by 19.34 per cent or N1.76 to close at N10.85 per share.

Conversely, Cadbury topped the losers’ chart for the week in percentage terms, dropping by 18.17 per cent or N2.32 to close at N10.45 per share.

Morrison Industries trailed with a loss of 17.58 per cent or 29 kobo to close at N1.36 and Livestock Feeds declined by 13.33 per cent or 12 kobo to close at 78 kobo per share.