FBN Holdings to delay 2021 AFY till month end
The management of FBN Holdings Plc has assured stakeholders at the Nigerian capital market of submitting audited financial statements (AFS) for the financial year ended December 31, 2021, by April 2022.
Post-listing rules at the NGX required quoted companies to submit their audited earnings reports, not later than 90 calendar days, or three months, after the expiration of the period. The rules also require quoted companies to submit interim report not later than 30 calendar days after the end of the relevant period.
Acting Company Secretary, FBN Holdings, Adewale Arogundade in a statement on the NGX said: “FBN Holdings wishes to notify the NGX and the investing public that the company was unable to file and publish its audited financial statements (AFS) for the financial year ended December 31, 2021, by March 31, 2022, a required under the Rules of the NGX.
“The company’s inability to publish was due to some delays being experienced in finalizing the statutory audit of the financial statements of one of the largest subsidiaries of FBN Holdings for the year ended December 31, 2021.
“The company hopes to receive the AFS in due course to aid the finalization of the Group accounts and its submission to Central Bank of Nigeria (CBN) for regulatory approval. We hope to conclude this with a view to publishing on the NGX issuers portal by April 2022.”
However, the stock price of FBN Holdings on Wednesday depreciated by 0.42 per cent to close at N11.8 per share.
