FBN Holdings to delay Q1 2022, 2021 AFS till May ending
FBN Holdings Plc has notified the Nigerian Exchange Limited (NGX) and the investing public of submitting full financial year ended December 31, 2021 and unaudited first quarter ended March 31, 2022 financial statements on or before March 30, 2022.
Post-listing rules at the Exchange 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.
FBN Holdings had promised capital market stakeholders of submitting audited 2021 full year result and accounts on or before April 29, 2022.
Capital market analysts noted that the Group might be sanctioned by the Exchange for delaying filing of the 2021 FY results, stressing that its stock might witnessed profit-taking by investors.
Responding on Friday, Acting Company secretary, FBN Holdings, Adewale Arogundade in a statement said: “FBN Holdings wishes to notify the NGX and investing public that the company was unable to file and publish its unaudited financial statement (Q1) 2022 UFS for the first quarter ended March 31, 2022, by April 30, 2022, as required under the Rules of the NGX.
“The Company’s inability to publish was due to the delays in finalizing the audited financial statements (FY) 2021 AFS) of the Group for the year ended December 31, 2021. The FY 2021 AFS was concluded and submitted to the Company’s primary regulator on April 29,2022.
“FBN Holdings plans to publish both the FY 2021 AFS and the Q1 2022 UFS on or before May 30, 2022 by which time the necessary approval would have been obtained from our primary regulator.”
With the announcement, the stock price of FBN Holdings depreciated by 2.05per cent or N0.25 to close at N11.95 on Friday from N12.2 per share it opened for trading.
