Top executives, directors, advisers, and many others at eTranzact International Plc have been barred from trading in the company’s shares ahead of the meeting of board of directors of eTranzact to consider the Q3 financial statement of the company.
Why the ban? The company took the action in line with the provisions of the Rule Book of the Nigerian Stock Exchange. In a statement sent to the Stock Exchange and seen by Nairametrics, eTranzact barred all Directors, Persons discharging managerial responsibility, Advisers of the Company or their connected persons because the firm is preparing to collate its financial statements for the third quarter of 2019.
According to the Information from the Communications Technology (ICT) firm, its action is backed by the provisions of Rule 17.2 of the Amendment to the Listing Rules and 17.17 of the Rule Book of the NSE which have been incorporated into Sections 4 to 6 of eTranzact Securities Trading Policy.
“Accordingly, in line with the provisions of Rule 17.2 of the Amendment To The Listing Rules and 17.17 of the Rule Book of the Nigerian Stock Exchange which have been incorporated into Sections 4 to 6 of the Company’s Securities Trading Policy, all Directors, Persons discharging managerial responsibility, Adviser(s) of the Company or their connected persons are prohibited from trading in the Company’s shares from October 9, 2019 until 24 hours after the release of the Company’s Financial Statements for the Third Quarter ended September 30, 2019 to the Nigerian Stock Exchange and the general public.”
Meeting of the Board of Directors: The Board of Directors of eTranzact would be meeting on October 24, 2019, to deliberate on the Company’s 2019 Q3 Financial Statement.
“eTranzact International Plc wishes to inform its esteemed Shareholders, Stakeholders, The Nigerian Stock Exchange and the general public that the meeting of the Board of Directors of eTranzact International Plc will hold on Thursday, October 24, 2019, at eTranzact International Plc’s Corporate Office to consider the Company’s Financial Statements for the Third Quarter ended September 30, 2019.”