NaijNaira
The Nigerian Exchange Limited (NGX) has suspended trading in Sterling Bank shares as the bank undergoes a restructuring.
The suspension, which began on Thursday, is necessary to determine which shareholders will qualify for the scheme of arrangement between the bank and its fully paid ordinary shareholders.
Meanwhile, the bank has requested an extension for filing its annual financial statements for the year ended 31st December 2022, with a revised deadline of 30th April 2023.
The bank’s commitment to regulatory compliance and transparency remains a top priority, according to the Company Secretary and Chief Legal Officer, Temitayo Adegoke.
The previously announced closed period, which began on 1st January 2023, will continue until 24 hours after the AFS for the year ended 31st December 2022 is released on the NGX floor, in compliance with post-listing requirements.
