PZ Cussons Nigeria Plc has disclosed that its board of directors convened a meeting on Friday 12th January 2024, to address various matters, with a primary focus on the company’s Unaudited Financial Statements for the quarter ending 30th November 2023 (Q2 UFS 2024).
While deliberations took place, it was revealed that certain matters pertaining to the accounts were yet to be finalized. The board has consequently expressed its intention to schedule another meeting in the near future to address these outstanding issues comprehensively.
The company has been in a closed period since 1st December 2023, a measure commonly observed to prevent insider trading, and this will persist until 24 hours after the release of the unaudited financial statements to the market.
“This is to notify our esteemed Shareholders, the investing public, and the Nigerian Exchange Limited that the Board of Directors of PZ Cussons Nigeria Plc held a meeting on Friday, 12 January 2024, to consider, amongst other things, the Company’s Unaudited Financial Statements for the quarter ended 30 November 2023 (Q2 UFS 2024). There are some matters outstanding on the Accounts, and the Board intends to convene another meeting shortly for that purpose.
“Please note that the Company’s closed period, which commenced on 1 December 2023, will remain in effect until 24 hours after the release of the Unaudited Financial Statements to the market,” PZ stated.
PZ Cussons Nigeria Plc remains committed to maintaining transparency and ensuring that its shareholders and the investing public are kept abreast of the developments surrounding the company’s financial standing. Further details and updates will be shared as the situation unfolds.
In another official notice, Royal Exchange Plc has announced its forthcoming virtual board meeting scheduled to take place via zoom on Thursday, 25th January 2024, at 10:00 am.
The key agenda items for this session include the reception and deliberation of the Q4 unaudited financial statements, covering the period ending December 31, 2023.The board has also earmarked time for any other business that may be deemed necessary for discussion during the meeting.
In compliance with Rule 17 & 18 (b) of the Nigerian Exchange Limited (NGX) rule book, the company has instituted a closed period, effective from December 1, 2023. This restriction will persist until 24 hours after the release of the Q4 2023 unaudited financial statements to both NGX and the investing public.
All members of the board and relevant insiders have been duly notified of this closed period, explicitly prohibiting them from engaging in any share transactions involving the company during this restricted timeframe. Investors and stakeholders are advised to stay tuned for updates following the virtual board meeting, as the company aims to maintain transparency and uphold regulatory standards in its financial reporting.
