X Compliance Report RELEASED FINANCIALS. Report Date: 31/12/2012

Transcription

1 X Compliance Report Report Date: 31/12/2012 X-Compliance Report is a transparency initiative of The Exchange which is designed to maintain market integrity and protect the investors by providing compliance related information on all listed companies. Companies that are listed on The Exchange are required to adhere to high disclosure standards which are prescribed in Appendix 111 of the Listing Rules. Financial information which is periodic disclosure and on-going material events disclosure should be released to The Exchange in a timely manner to enable it efficiently perform its function of maintaining an orderly market. The X-Compliance Report provides information on: RELEASED FINANCIALS EARLY FILERS OF AUDITED ACCOUNTS DELINQUENT FILERS OF AUDITED ACCOUNTS DELINQUENT FILERS OF QUARTERLY REPORTS COMPANIES THAT ARE OPERATING BELOW LISTING STANDARDS COMPANIES WITH FREE-FLOAT DEFICIENCY COMPANIES THAT BREACHED LISTINGS RULES ENFORCEMENT ACTIONS AGAINST COMPANIES COMPANIES SLATED FOR DELISTING APPLICATION FOR NEW LISTINGS APPLICATIONS APPROVED BY THE QUOTATIONS COMMITTEE RELEASED FINANCIALS Details of the released financials can be found on the Nigerian Stock Exchange website (

2 EARLY FILERS Quoted companies on The Exchange are required to file their financial statements on a timely basis in accordance with Appendix 111 of the Listing Rules. The Exchange has identified the companies listed on Schedule One as companies that have exceeded the minimum listing standards in terms of timely disclosure of their Audited Annual and quarterly financial performance. The Exchange is extremely proud of these companies and will continue to show case quoted companies that imbibe high corporate governance practices. SCHEDULE ONE S/N NAME OF COMPANY QUARTER DUE DATE FILED DATE 1 Diamond Bank Plc. Sept Nov Oct Champion Breweries Plc. Sept Nov Oct UBA Plc. Sept Nov Oct Skye Bank Plc. Sept Nov Oct Unilever Nigeria Plc. Sept Nov Oct Transnational Corporation Plc. Sept Nov Oct Secure Electronic Technologies Plc. Sept Nov Oct Guaranty Trust Bank Plc. Sept Nov Oct Access Bank Plc. Sept Nov Oct Zenith Bank Plc. Sep Nov Oct AIICO Insurance Plc. Sep Nov Oct Fidelity Bank Plc. Sep Nov Oct NEM Insurance Plc Sep Nov Oct Trans-Nationwide Express Plc Sep Nov Oct Dangote Sugar Plc. Sept Nov Oct Eco. Transnational Bank Plc. (ETI) Sep Nov Oct Unity Bank Plc. Sep Nov Oct Sterling Bank Plc. Sep Nov Oct First City Monument Bank Plc. (FCMB) Sep Nov Oct Berger Paints Plc. Sep Nov Oct Studio Press (Nig.) Plc. Sep Nov Oct DN Meyer Plc. Sep Nov Oct Stanbic IBTC Plc. Sep Nov Oct Mansard Insurance Plc. Sep Nov Oct Nigerian Breweries Plc. Sept Nov Oct Presco Plc. Sept Nov Oct Ashaka Cement Plc. Sep Nov Oct OANDO Plc. Sep Nov Oct R.T Briscoe Plc. Sep Nov Oct -2012

3 30 R.T Briscoe Plc. Sep Nov Oct Courteville Bus. Solution Plc. Sep Nov Oct Cornerstone Insurance Plc Sep Nov Oct UACN Plc. Sep Nov Oct First Bank Plc. Sep Nov Oct Livestock Feeds Plc. Sep Nov Oct Nestle Nig. Plc. Sep Nov Oct UAC Property Dev. Plc. Sep Nov Oct CAP Plc. Sep Nov Oct Lafarge (WAPCO) Plc. Sep Nov Oct Mobil Oil Plc. Sep Nov Oct Total Nig. Plc. Sep Nov Oct Forte Oil Plc. Sep Nov Oct Prestige Assurance Plc. Sep Nov Oct B.O.C Gases Plc. Sep Nov Oct Crusader Nigeria Plc. Sep Nov Oct Learn Africa Plc Sep Nov Oct Union Ventures & Petroleum Plc. Sep Nov Oct Cadbury Nig. Plc Sep Nov Oct Seven-Up Bottling Co. Plc Sep Nov Oct Premier Paints Plc. Sep Nov Oct Okomu Oil Plc. Sep Nov Oct GlaxoSmithKline Nig. Plc. Sep Nov Oct Eterna Oil Plc. Sep Nov Oct SCOA Plc. Sep Nov Oct Custodian Insurance Plc. Sep Nov Oct International Breweries Plc. Sep Nov Oct Royal Exchange Plc. Sep Nov Oct Japaul Oil & Maritime Services Plc. Sep Nov Oct Beta Glass Plc. Sep Nov Oct May & Baker Plc. Sep Nov Oct A.G. Leventis Plc. Sep Nov Oct Consolidated Hallmark Insurance Plc. Sep Nov Oct Fidson Healthcare Plc. Sep Nov Oct Continental Reinsurance Plc. Sep Nov Oct Niger Insurance Plc. Sep Nov Oct Morrison Industries Plc. Sep Nov Oct Wapic Insurance Plc. Sep Nov Oct Aluminium Extrusion Plc. Sep Nov Oct Great Nigeria Insurance Plc. Sep Nov Oct Julius Berger Plc. Sep Nov Oct Oasis Insurance Plc. Sep Nov Oct-2012

4 72 Tantalizers Plc. Sep Nov Oct Lasaco Assurance Plc. Sep Nov Oct Portland Paints and Products Plc. Sep Nov Oct Regency Alliance Insurance Plc. Sep Nov Oct-2012 EARLY FILERS AUDITED 2012 S/N NAME OF COMPANY YEAR END DUE DATE FILED DATE 1 PZ Industries Plc. May August July Guinness Nigeria Plc. June Sept Sept-2012 DEFAULT FILERS (AUDITED ACCOUNTS) Quoted companies on The Exchange are required to file their financial statements on a timely basis in accordance with Appendix 111 of the Listing Rules. The Exchange has identified the companies listed on Schedules Two and Three as companies that have not met the minimum listing standards in terms of timely disclosure of their Audited Annual financial performance and are thus operating below the listing standards () of The Exchange. The Sanctions for non-compliance with periodic financial disclosure obligations are clearly spelt out in Appendix 111 of the Listing Rules and The Exchange will protect the integrity of its Rules. SCHEDULE TWO BANKS AND INSURANCE COMPANIES S/NO COMPANY YE SYMBOL REMARKS 1 Union Homes Savings & Loans Plc Mar Non rendition of Audited Financial Statements *Goldlink Insurance Plc Dec Non rendition of Audited Financial Statements International Energy Insurance Plc. Dec Non rendition of Audited Financial Statements 2011 *Goldlink Insurance Plc : The Exchange suspended the trading on the Company s shares with effect from November 2, 2012 following the appointment of an Interim Management by NAICOM to oversee the affairs of the Company.

5 SCHEDULE THREE OTHER COMPANIES G. Cappa Plc Mar Non rendition of Audited Financial 1 Statements 2010 Mar Non rendition of Audited Financial 2 Nigerian German Chemicals Plc Statements Neimeth International Pharm Plc Mar (12 months) Non rendition of Audited Financial Statements Costain (W.A.) Plc Mar Non rendition of Audited Financial Statements Adswitch Plc April Non rendition of Audited Financial Statements Multi-Trex Integrated Foods Plc April Non rendition of Audited Financial Statements West African Aluminium Products Plc Sept Non rendition of Audited Financial Statements Nigerian Wire & Cable Plc Sept Non rendition of Audited Financial Statements Jos International Breweries Plc Dec Non rendition of Audited Financial Statements Afrik Pharmaceutical Plc Dec Non rendition of Audited Financial Statements Big Treat Plc Dec Regulatory Issue 12 Mtech Plc Dec Regulatory Issue 13 Investment & Allied Assurance Plc Dec Regulatory Issue QUARTERLY ACCOUNTS Quoted companies on The Exchange are required to file their Quarterly accounts within 45 days after the end of the Quarter in accordance with Appendix 111 of the Listing Rules. Details of the Quarterly filings are listed on Schedule Five and can be downloaded from the Released Financials on the website. The Sanctions for non-compliance with periodic financial disclosure obligations are clearly spelt out in Appendix 111 of the Listing Rules and The Exchange will protect the integrity of its Rules.

6 SCHEDULE FOUR UNAUDITED FIRST QUARTER 2012 S/NO COMPANY QTR SYMBOL 1 MCNICHOLS PLC MARCH 2 SMART PDTS NIG PLC MARCH 3 AFRIK PHARMACEUTICALS MARCH 4 ADSWITCH PLC JULY 5 RAK UNITY PETROLEUM PLC JULY 6 ANINO INTERNATIONAL MARCH 7 UNION VENTURES & PET PLC MARCH 8 JULI PLC MARCH 9 PREMIER BREW. PLC JUNE MULTI-TREX INTERGRATED FOODS 10 PLC JULY 11 BIG TREAT PLC MARCH 12 NIG. ENAMELWARE COMP. PLC JULY 13 VONO PRODUCTS PLC MARCH 14 ARBICO PLC MARCH 15 COSTAIN (W.A) PLC JUNE 16 G CAPPA PLC JUNE 17 ROADS NIGERIA PLC JUNE 18 UNION HOMES REAL ESTATE PLC FEBRUARY 19 SKYE SHELTER FUND PLC MARCH 20 FORTIS MICROFINANCE BANK PLC MARCH 21 WEMA BANK PLC MARCH 22 AFRICAN ALLIANCE INSURANCE PLC MARCH 23 CORNERSTONE INSURANCE PLC MARCH

7 24 GOLDLINK INSURANCE PLC MARCH 25 GREAT NIGERIA INSURANCE PLC MARCH 26 INTERNATIONAL ENERGY INSURANCE MARCH 27 INVESMENT & ALLIED ASSURANCE MARCH 28 LINKAGE ASSURANCE PLC MARCH 29 MUTUAL BENEFIT ASSURANCE MARCH 30 STACO PLC MARCH 31 UNITY KAPITAL ASSURANCE MARCH 32 UNIVERSAL INSURANCE CO. MARCH 33 WAPIC INSURANCE PLC MARCH 34 UNION HOMES SAVINGS & LOANS JUNE 35 NIGERIA ENERGY SECTOR PLC JUNE 36 SIM CAPITAL ALLIANCE VALUE MARCH 37 EKOCORP PLC MARCH UNION DIAGNOSTIC & CLINICAL 38 SERVICES MARCH 39 NEIMETH INTERN. PHARM. PLC JUNE 40 NIGERIAN GERMAN CHEMICAL JUNE 41 EVANS MEDICAL PLC MARCH 42 FIDSON HEALTHCARE PLC MARCH 43 PHARMA DEKO PLC MARCH 44 MTECH COMMUNICATIONS PLC MARCH 45 MTI PLC MARCH 46 AFRICAN PAINTS (NIG) PLC MARCH 47 IPWA PLC MARCH 48 NIGERIAN WIRE & CABLE PLC MARCH 49 AVON CROWNCAPS & CONTAINER JUNE 50 THOMAS WYATT NIG. PLC JUNE

8 51 ACADEMY PRESS PLC JUNE 52 IKEJA HOTEL PLC MARCH 53 DAAR COMMUNICATIONS PLC MARCH 54 INTERLINKED TECHNOLOGIES PLC SEPTEMBER 55 Ellah Lakes Plc October UNAUDITED HALF YEAR 2012 S/NO COMPANY QTR SYMBOL 1 FTN COCOA PROCESSORS PLC JUNE 2 MCNICHOLS PLC JUNE 3 SMART PDTS NIG PLC JUNE 4 AFRIK PHARMACEUTICALS JUNE 5 ANINO INTERNATIONAL JUNE 6 UNION VENTURES & PET PLC JUNE 7 JOHN HOLT PLC MARCH 8 PREMIER BREW. PLC SEPTEMBER 9 DN TYRE & RUBBER PLC MARCH 10 P.S MANDRIDES & CO PLC JUNE 11 BIG TREAT PLC JUNE 12 VONO PRODUCTS PLC JUNE 13 VITAFOAM NIGERIA PLC MARCH 14 ARBICO PLC JUNE 15 COSTAIN (W.A) PLC SEPTEMBER 16 G CAPPA PLC SEPTEMBER 17 ROADS NIGERIA PLC SEPTEMBER 18 UNION HOMES REAL ESTATE PLC MAY

9 19 FORTIS MICROFINANCE BANK PLC JUNE 20 WEMA BANK PLC JUNE 21 AFRICAN ALLIANCE INSURANCE PLC JUNE 22 CORNERSTONE INSURANCE PLC JUNE 23 GOLDLINK INSURANCE PLC JUNE 24 GREAT NIGERIA INSURANCE PLC JUNE 25 INTERNATIONAL ENERGY INSURANCE JUNE 26 INVESMENT & ALLIED ASSURANCE JUNE 27 LINKAGE ASSURANCE PLC JUNE 28 MUTUAL BENEFIT ASSURANCE JUNE 29 SOVEREIGN TRUST INSURANCE JUNE 30 STACO PLC JUNE 31 UNITY KAPITAL ASSURANCE JUNE 32 UNIVERSAL INSURANCE CO. JUNE 33 ASO SAVINGS & LOANS PLC SEPTEMBER 34 UNION HOMES SAVINGS & LOANS SEPTEMBER 35 ROYAL EXCHANGE PLC JUNE 36 SIM CAPITAL ALLIANCE VALUE JUNE 37 NIGERIA ENERGY SECTOR PLC SEPTEMBER 38 EKOCORP PLC JUNE UNION DIAGNOSTIC & CLINICAL 39 SERVICES JUNE 40 EVANS MEDICAL PLC JUNE 41 NEIMETH INTERN. PHARM. PLC SEPTEMBER 42 NIGERIAN GERMAN CHEMICAL SEPTEMBER 43 MTECH COMMUNICATIONS PLC JUNE 44 MTI PLC JUNE 45 AFRICAN PAINTS (NIG) PLC JUNE

10 46 IPWA PLC JUNE 47 PREMIER PAINTS PLC JUNE 48 NIGERIAN WIRE & CABLE PLC JUNE 49 GREIF NIGERIA PLC APRIL 50 AVON CROWNCAPS & CONTAINER SEPTEMBER 51 ACADEMY PRESS PLC SEPTEMBER 52 AFROMEDIA MARCH 53 IKEJA HOTEL PLC JUNE 54 DAAR COMMUNICATIONS PLC JUNE UNAUDITED NINE MONTHS 2012 S/NO COMPANY QTR SYMBOL 1 FTN COCOA PROCESSORS PLC SEPT 2 ELLAH LAKES PLC APRIL 3 SMART PDTS NIG PLC SEPT 4 AFRIK PHARMACEUTICALS SEPT 5 JULI PLC SEPT 6 P.S MANDRIDES & CO PLC JUNE 7 BIG TREAT PLC SEPT 8 DANGOTE FLOUR MILLS PLC SEPT 9 UTC NIGERIA PLC SEPT 10 VONO PRODUCTS PLC SEPT 11 ARBICO PLC SEPT 12 UNION HOMES REAL ESTATE PLC AUG 13 SKYE SHELTER FUND PLC SEPT NEWGOLD ISSUER LIMITED 14 SEPT 15 FORTIS MICROFINANCE BANK PLC SEPT

11 16 WEMA BANK PLC SEPT 17 GOLDLINK INSURANCE PLC SEPT INTERNATIONAL ENERGY 18 INSURANCE SEPT 19 INVESMENT & ALLIED ASSURANCE SEPT 20 LINKAGE ASSURANCE PLC SEPT 21 STACO PLC SEPT 22 UNIC INSURANCE PLC SEPT 23 UNIVERSAL INSURANCE CO. SEPT 24 DEAP CAPITAL MGT & TRUST PLC JUNE 25 SIM CAPITAL ALLIANCE VALUE SEPT 26 EKOCORP PLC SEPT UNION DIAGNOSTIC & CLINICAL 27 SERVICES SEPT 28 OMATEK VENTURES PLC SEPT 29 MTECH COMMUNICATIONS PLC SEPT 30 CHAMS PLC SEPT 31 MTI PLC SEPT 32 CEMENT CO OF NORTH.PLC SEPT 33 IPWA PLC SEPT 34 PORTLAND PAINT & PRODUCT SEPT 35 AUSTIN LAZ & COMPANY PLC JUNE 36 NIGERIAN WIRE & CABLE PLC SEPT 37 GREIF NIGERIA PLC JULY 38 ALUMINIUM MAN. OF NIGERIA PLC SEPT 39 AFROMEDIA JUNE 40 IKEJA HOTEL PLC SEPT 41 DAAR COMMUNICATIONS PLC SEPT

12 COMPANIES SLATED FOR DELISTING/RESTRUCTURING The companies listed on Schedule Five are slated for delisting/restructuring for various reasons stated. SCHEDULE FIVE DELISTING IN PROCESS 1 Pinnacle Point Group Plc DIP Company in liquidation process 2 Poly Products Plc DIP Voluntary delisting due to harsh economic climate 3 Nigerian Wire Industries Plc DIP Regulatory delisting due to non-compliance with the Post-Listings Rules 4 West African Aluminium Plc DIP Regulatory delisting due to non-compliance with the Post-Listings Rules 5 Afroil Plc DIP Regulatory delisting due to non-compliance with the Post-Listings Rules RESTRUCTURING 1 Lennards Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 2 Union Dicon Salt Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 3 Rokanna Industries Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 4 West African Glass Industries Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 5 Jos International Breweries Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 6 Golden Guinea Breweries Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 7 Stokvis Nigeria Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 8 Nigerian Sewing Machine Plc RESTRG The company is restructuring to regularize its post-listing status on The NSE 9 Regulatory delisting due to non-compliance with Capital Oil Plc RESTRG the Post-Listings Rules 10 Aluminium Manufacturing Company of Nigeria Plc RESTRG Regulatory delisting due to non-compliance with the Post-Listings Rules 11 Regulatory delisting due to non-compliance with Premier Breweries Plc RESTRG the Post-Listings Rules

13 DISSEMINATION OF INFORMATION TO THE MEDIA (UNAUTHORISED PUBLICATION) Every company that is listed on The Exchange is required to provide The Exchange with timely information to enable it efficiently perform its function of maintaining an orderly market. In accordance with the provisions of Appendix 111 of the Listing Rules, quoted companies are required to obtain prior written approval before publications are made in the media. The companies listed in Schedules six and seven contravened the provisions of the Listing Rules. The Exchange applied the sanctions prescribed Rules and the companies have discharged their financial obligations accordingly. SCHEDULE SIX PUBLICATIONS WITHOUT NSE S WRITTEN APPROVAL IN 2011 S/No NAME OF COMPANIES PENALTY (N) NATURE OF PUBLICATION 1 Mobil Oil Plc 1,016, Interim Results 8 Larfarge Wapco Plc 700, Interim Results 6 Guinea Insurance Plc 157, Audited Account 3 Transnational Corp Plc 762, Changes in the Board 2 Stanbic IBTC Bank Plc 102, Appointment of Directors 4 Wema Bank Plc 352, Appointment of Directors 5 Neimeth International 181, Appointment of Acting CEO Pharmaceutical Plc 7 Honeywell Flour Mills Plc 646, Appointment of Directors 9 Diamond Bank Plc 406, Appointment of Directors SCHEDULE SEVEN PUBLICATION WITHOUT NSE S WRITTEN APPROVAL IN 2012 S/No NAME OF COMPANIES PENALTY (N) NATURE OF PUBLICATION 1 Multiverse Plc 496, Appointment of Directors 2 Unity Bank Plc 1,543, Notice of Divestment of Holdings of Unity Bank Plc from its Non-Banking Subsidiaries 3 First Bank of Nigeria Plc 2,100, Notice of Extra-Ordinary General Meeting 4 Costain (W.A) Plc 575, Appointment of External Auditor

14 SANCTIONS FOR LATE FILINGS OF FINANCIAL STATEMENTS Contained in schedules eight and nine are the list of companies that filed their 2011 and 2012 financial statements after the due date. The Exchange applied sanctions in accordance with the provisions of Section 14 of Appendix 111 of the Listing Rules. SCHEDULE EIGHT SANCTIONS FOR LATE FILINGS S/No NAME OF COMPANIES PENALTY (N) ACCOUNTS 1 Nigerian German Chemical Plc 211, Audited (Mar 2011) Q1 (June 2011) 2 Chellarams Plc 30, Q3 (Dec 2011) 3 Beco Petroleum Product Plc 210, Q2 (Jan 2011) Q3 (April 2011) 4 Vitafoam Nigeria Plc 22, Audited (September 2010) Q1 (Dec 2010) 5 Afromedia Plc 24, Q1 (Dec 2011) 6 Greif Nigeria Plc 112, Audited (October 2010) Q1 (Jan 2011) Q2 (April 2011) 7 FTN Cocoa Processors Plc 245, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 8 R.T Briscoe Plc 14, Audited (Dec Access Bank (Nig) Plc 4, Q2 (June 2011) 10 Fidelity Bank Plc 5, Audited (Dec 2010) 11 Sterling Bank Plc 11, Audited (Dec 2010) 12 First Bank of Nig. Plc 15, Audited (Dec 2010) 13 UBA Plc 15, Audited (Dec 2010) 14 First Inland Bank Plc 35, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 15 Union Bank Plc 167, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 16 International Breweries Plc 22, Audited (Dec 2010) Q1 (Mar 2011) 17 Dangote Cement Plc 7, Audited (Dec 2010) 18 Cement Co of Northern Nigeria 12, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) Plc 19 Ashaka Cement Plc 160, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 20 Portland Paint & Product Plc 2, Audited (Dec 2010) 21 Berger Paints Plc 22, Audited (Dec 2010) 22 Courteville Business Solutions Plc 7, Audited (Dec 2010) Q1 (Mar 2011) 23 NCR (Nigeria) Plc 94, Audited (Dec 2010) 24 Unilever Plc 4, Audited (Dec 2010) 25 A.G Leventis Nigeria Plc 41, Audited (Dec 2010) 26 SCOA Nigeria Plc 152, Audited (Dec 2010) Q1 (Mar 2011) 27 Transnational Corporation Plc 201, Audited (Dec 2010) Q1 (Mar 2011) 28 Multiverse Resources Plc 68, Audited (Dec 2010) 29 Julius Berger Nigeria Plc 81, Audited (Dec 2010) 30 National Salt Company Nigeria Plc 68, Audited (Dec 2010) Q1 (Mar 2011)

15 31 UTC Nigeria Plc 98, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 32 Dangote Sugar Plc 152, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 33 Dangote Flour Mills Plc 567, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) Q3 (September 2011) 34 Evans Medical Plc 8, Audited (Dec 2010) Q2 (June 2011) 35 Morison Industries Plc 220, Audited (Dec 2010) Q1 (Mar 2011) 36 Ekocorp Plc 275, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 37 Ikeja Hotel Plc 332, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 38 Aluminium Extrusion Nigeria Plc 78, Audited (Dec 2010) Q1 (Mar 2011) 39 First Aluminium Nigeria Plc 101, Audited (Dec 2010) Q1 (Mar Vono Products Plc 127, Audited (Dec 2010) 41 E-Tranzact International Plc 197, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 42 Equity Assurance Plc 514, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) Q3 (September 43 Prestige Assurance Company Plc 15, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 44 Law Union Rock Insurance Plc 31, Audited (Dec 2010) 45 Regency Alliance Insurance Plc 78, Audited (Dec 2010) 46 Oasis Insurance Plc 102, Audited (Dec 2010) 47 Goldlink Insurance Plc 107, Audited (Dec 2010) Q1 (Mar 2011) 48 Guinea Insurance Plc 147, Audited (Dec 2010) Q2 (June 2011) 49 Linkage Assurance Plc 182, Audited (Dec 2010) Q1 (Mar 2011) 50 Great Nigeria Insurance Plc 187, Audited (Dec 2010) Q1 (Mar 2011) 51 NEM Insurance Company Plc 206, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 52 AIICO Insurance Plc 211, Audited (Dec 2010) Q1 (Mar 2011) 53 International Energy Insurance 224, Audited (Dec 2010) Plc 54 Niger Insurance Company Plc 258, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) Q3 (September) 55 Staco Plc 334, Q1 (Mar 2011) Q2 (June 2011) 56 Standard Alliance Plc 464, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 57 Universal Insurance Plc 245, Audited (Dec 2010) 58 Japaul Nig Plc 35, Audited (Dec 2010) Q2 (June 2011) 59 DAAR Communications Plc 251, Audited (Dec 2010) 60 Abbey Building Society Plc 114, Audited (Dec 2010) Q1 (Mar 2011) 61 Royal Exchange Plc 214, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 62 Oando Plc 5, Audited (Dec 2010) Q1 (Mar 2011) Q2 (June 2011) 63 Total Nigeria Plc 28, Audited (Dec 2010) 64 Conoil Plc 57, Audited (Dec 2010) Q1 (Mar 2011) 65 Learn Africa Plc 571, Audited (Dec 2010)

16 SCHEDULE NINE SANCTIONS FOR LATE FILINGS S/No NAME OF COMPANIES PENALTY (N) ACCOUNTS 1 C & I Leasing Plc 1,050, Audited (Jan 2012 ) 2 Costain (W.A) Plc 2,850, Audited (Mar 2011) 3 John Holt Plc 1,700, Audited (Sept 2011) 4 Eterna Plc 100, Audited (Dec 2011) 5 FTN Cocoa Plc 200, Audited (Dec 2011) 6 Dangote Flour Mills Plc 400, Audited (Dec 2011) 7 Regency Alliance Insurance Plc 500, Audited (Dec 2011) 8 Oando Plc 500, Audited (Dec 2011) 9 Premier Paints Plc 700, Audited (Dec 2011) 10 Scoa Nigeria Plc 800, Audited (Dec 2011) 11 Universal Insurance Plc 900, Audited (Dec 2011) 12 Union Bank Plc 900, Audited (Dec 2011) 13 Royal Exchange Plc 900, Audited (Dec 2011) 14 Crusader Nigeria Plc 800, Audited (Dec 2011) 15 Niger Insurance Plc 900, Audited (Dec 2011) 16 Unity Kapital Assurance Plc 900, Audited (Dec 2011) 17 Conoil Plc 1,200, Audited (Dec 2011) 18 Cornerstone Insurance Plc 1,500, Audited (Dec 2011) 19 Linkage Assurance Plc 3,300, Audited (Dec 2011) 20 Guinea Insurance Plc 2,700, Audited (Dec 2011) 21 Tourist Company Plc 100, Audited (June 2012) 22 Wema Bank Plc 2,700, Audited (Dec 2011) 23 IPWA Plc 2,700, Audited (Dec 2011) 24 Unic Insurance Plc 2,800, Audited (Dec 2011) 25 Equity Assurance Plc 3,000, Audited (Dec 2011) 26 Standard Alliance Plc 3,000, Audited (Dec 2011) 27 Mutual Benefit Assurance Plc 3,000, Audited (Dec 2011) 28 Great Nigeria Insurance Plc 3,000, Audited (Dec 2011) 29 African Alliance Insurance Plc 3,000, Audited (Dec 2011) 30 John Holt Plc 3,400, Audited (Dec 2011) 31 Ikeja Hotel Plc 3,400, Audited (Dec 2011) 32 Daar Communication Plc 3,400, Audited (Dec 2011)

17 FREE FLOAT DEFICIENCIES Companies listed on The Exchange must maintain a minimum free float for the set standards under which they are listed in order to ensure that there is an orderly and liquid market in their securities. The free float requirement for companies on the Main Board is 20% and 15% for ASEM companies. The Exchange has identified five companies that have free float deficiencies. These companies applied for waivers from The Quotations Committee specifically provided compliance plans with tentative timelines to support their requests. The Quotations Committee considered and approved an extended timeframe for the companies to regain compliance with the Listing Requirement. The companies are however required to also provide quarterly disclosure reports to The Exchange detailing their level of implementation of the compliance plans. The names of the companies in this category are contained in Schedule ten. SCHEDULE TEN COMPANIES WITH FREE FLOAT DEFICIENCIES ISSUER % OF FREELOAT COMPLIANCE DUE DATE Tourist Company of Nigeria Plc Feb-13 NPF Microfinance Bank Plc May-13 Dangote Cement Plc Oct-14 Studio Press Plc 2.82 Conclude placing. WIP on free float Union Bank of Nigeria Plc Jun-17

18 TRANSPARENCY DISCLOSURES APPROVED APPLICATIONS FOR LISTING The Quotations Committee of Management considered and approved the applications for listings by the Issuers detailed in schedule thirteen. SCHEDULE THIRTEEN ISSUER United Bank for Africa Plc First City Monument Bank Plc Linkage Assurance Plc APPLICATIONS APPROVED ON DECEMBER 19, 2012 CAPITAL RAISING STOCK BROKER ISSUING HOUSE METHOD HOLDING COMPANY RESTRUCTURING Scheme of Arrangement for the Restructuring of United Bank for Africa Plc into a Financial Service Holding Company Scheme of Arrangement between FCMB Plc and the Holders of Its Fully Paid Ordinary Shares of 50 kobo each Placing of 2,897,207,843 Ordinary Shares of 50 kobo each at 50 kobo per share with the Bayelsa State Government UBA Stockbrokers Ltd and BGL Securities Ltd CSL Stockbrokers PLACING City-Code Trust & Investment Co. Afinvest (West Africa) ; BGL Plc; and UBA Capital Plc FCMB Capital Markets Skye Financial Services ; and Gresham Asset Management Oando Plc Rights Issue of 4,548,236,276 Ordinary Shares of 50 kobo each at N12.00 per share RIGHTS ISSUES Vetiva Securities Vetiva Capital Management ; FBN Capital ; and FCMB Capital Markets

19 ISSUER APPLICATIONS APPROVED ON DECEMBER 14, 2012 CAPITAL RAISING STOCK BROKER ISSUING HOUSE METHOD FUND FBN Capital Memorandum Listing by Introduction of 1,752,200 Units of N1000 each at par in the FBN Fixed Income Fund and 17,984,400 Units of N100 each at par in the FBN Money Market Fund Lagos State Government Osun State Government Offer for Subscription of N80 Billion Series 1 Bonds Due 2019 (Series 1) under the N167.5 Billion Bond Issuance Programme Offer for Subscription of N30 Billion 14.75% Fixed Rate Bonds Tranche 1 under its N60 Billion Debt Issuance Programme FBN Securities STATE BOND Marina Securities, Chapel Hill Denham Securities ; Afrinvest (West Africa) ; Clearview Investment company ; Camry Securities ; CSL Stockbrokers ; Dominion Trust ; FBC Trust ; Equity Capital Solutions ; FBN Securities ; F&C Securities ; Finmal Finance Services ; Greenwich Securities ; GTB Securities ; Profund Securities ; PSI Securities ; Pyramid Securities ; Reward Investments ; Security Swaps Ltd; Signet Investment and Securities ; Stanbic IBTC Stockbrokers ; WSTC Financial Services and Zenith Securities. FCSL Assets Management ; FBN Capital Ltd; Chapel Hill Advisory Partners Ltd; Greenwich Trust Ltd, GTI Capital Ltd; Independent Securities Ltd; Lead Capital Plc; Lotus Capital Ltd; Morgan Capital Securities Ltd; PanAfrican Capital Ltd; Phoenix Global Capital Markets Ltd; Radix Capital Partners Ltd; Skye Financial Services Ltd; Guaranty Trust Bank Plc Chapel Hill Advisory Partners ; Afrinvest (West Africa) ; Radix Capital partners ; FBN Capital ; FCMB Capital Markets ; Skye Financial Services ; Stanbic IBTC Bank Plc; Vetiva Capital Management and Zenith Capital. FBN Capital Ltd; Chapel Hill Advisory Partners Ltd; Greenwich Trust Ltd; GTI Capital Ltd; Independent Securities Ltd; Lead Capital Plc; Lotus Capital Ltd; Morgan Capital Securities Ltd; PanAfrican Capital Ltd; Phoenix Global Capital Markets Ltd; Radix Capital Partners Ltd; Skye Financial Services Ltd; Stanbic IBTC Bank Plc; Sterling

20 Stanbic IBTC Bank Plc; Sterling Capital Markets Ltd; and Zenith Securities Ltd. Capital Markets Ltd; and Zenith Securities Ltd. Prestige Assurance Plc Rights Issue of 2,508,315,438 Ordinary Shares of 50k each at N0.50 per Share RIGHTS ISSUES Imperial Asset Managers Nigerian Stockbrokers ; and Sterling Capital Markets First City Monument Bank Plc Scheme of Merger between First City Monument Bank Plc and Finbank MERGERS CSL Stockbrokers FCMB Capital Markets Wapic Insurance Plc Scheme of Merger between Wapic Insurance Plc and Intercontinental Properties Marina Securities BGL Plc ISSUER APPLICATIONS APPROVED ON NOVEMBER 1, 2012 CAPITAL RAISING STOCK BROKER METHOD FUND VNSE-30 INDEX SECURITIES Offer for Subscription of 100,000,000 Units of VNSE-30 Index Securities Cashcraft Asset Management ISSUING HOUSE Cordros Capital Gombe State Government STATE BOND Offer for Subscription of N20 billion Issuance Programme Seires 1 Under the N30 billion Bond Issuance Programme PLACING Marina Securities, Camry Securities, Finmal Finance Services and Securities Swops Access Bank Plc, BGL Plc, Finmal Finance Services, Greenwich Trust, GTB Asset Management, UBA Capital

21 Livestock Feeds Plc Placing of 800,000,000 Ordinary Shares of 50k each at N1.13 per Share with UAC of Nigeria Plc Cashcraft Asset Management Cashcraft Asset Management Prestige Assurance Plc Rights Issue of 2,508,315,438 Ordinary Shares of 50k each at N0.50 per Share RIGHTS ISSUES Imperial Asset Managers Nigerian Stockbrokers, Sterling Capital Markets ISSUER UACN Property Development Company Plc Real Estate Investment Trust (REIT) Premier Paints Plc APPROVED APPLICATIONS AS AT SEPTEMBER 28, 2012 CAPITAL RAISING STOCK BROKER METHOD INITIAL PUBLIC OFFERING Initial Public Offering of 3,000,000,000 units of N10.00 each at par in the UPDC Real Estate Investment Company (REIT) PLACING Placing of 48,000,000 ordinary shares of 50k each of the company at N1.00 per share with Clover Global Resources Stanbic IBTC Stockbrokers Trust Yield Securities ISSUING HOUSE Stanbic IBTC Bank Plc Mainstreet Bank Capital Guinea Insurance Plc Special Placing of 740,000,000 ordinary shares of 50kobo each at 50kobo per share Capital Asset Capital Asset Rak Unity Petroleum Plc: Special Placing of 43,051,159 ordinary shares of 50kobo each at N7.90 per share Afrinvest West Africa Afrinvest West Africa

22 Ecobank Transnational Incorporated (ETI) Special Placing of 3,125,000,000 ordinary shares of 0.25 cent at N12.86 per share in favour of Public Investment Corporation on behalf of Government Employee Pension Fund of South Africa Aso Savings Loans Plc Rights Issue of 11,046,189,224 ordinary shares of 50k each at 60k per share RIGHTS ISSUES EDC Securities Apt Securities Fund Renaissance Capital Chapel Hill Advisory Partners African Paints Nigeria Plc Rights Issue of 130,000,000 ordinary shares of 50k each at N1.25 per share Chapel Hill Denham Securities Chapel Hill Advisory Partners Cornerstone Insurance Plc (aborted) Scheme of Merger between Cornerstone Insurance Plc and Linkage Insurance Plc MERGERS CSL Stockbrokers FCMB Capital Market Geo-Fluids Plc LISTING BY INTRODUCTION Application for Listing by Introduction of 4,257,667,518 ordinary shares of 50kobo each Chartwell Securities N/A Guaranty Trust Assurance Plc TENDER OFFERS Tender Offer for the Acquisition of Additional 732,405,689 ordinary shares of 50kobo each at N1.76 per share in Guaranty Trust Assurance Plc Readings Investments N/A Assur Africa Holding (AAH) Tender Offer for the Acquisition of additional 732,405,689 ordinary shares of 50kobo each at N1.76 per share in Guaranty Trust Assurance Plc Readings Investments N/A Skye Bank Plc BLOCK DIVESTMENT/ACQUISITIONS Block Divestment of 1,785,627,772 ordinary shares of 50kobo each of Law Union & Rock Insurance Plc by Skye Bank Plc Dangote Flour Mills Plc Proposed Acquisition Of 3,167,716,667 Ordinary Shares Of 50 Kobo Each Representing 63.35% Equity Stake In Dangote Flourmills Plc (Held By Dangote Industries ) By Tiger Brand Skye Stockbrokers Ltd Vetiva Securities N/A N/A

23 NEW LISTING Company Date Listed Value (N) Shares Added Description UBA PLC 2nd Tranche 01/05/ ,000,000,000 Corp Bond Tower Funding Plc Tranche A 09/02/2012 3,630,000,000 Corp Bond Tower Funding Plc Tranche B 09/02/2012 1,000,000,000 Corp Bond Listing by Austin Laz & Co. Plc 29/2/2012 1,079,860,000 Introduction Lafarge WAPCO's Plc 5/3/ ,880,000,000 Corp Bond IHS Plc Preference Shares Series II 8/3/2012 2,791,454,545 Pref. Share Ekiti State 13/3/ ,000,000,000 Govt. Bond Chellarams Plc 20/3/ ,000,000 Benue State Government N13 Billion Fixed Rate Development Bond Issue 2011/ /3/ ,000,000,000 Corp Bond Govt. Bond Crusader Nig Plc zero Coupon (Bond) 14/620/12 1,838,811,700 Corp Bond Fortis Microfinance Bank Plc 20/6/2012 1,630,091,000 Oasis Insurance Plc 25/01/2012 1,500,000,000 Listing by Introduction Special Placing Flour Mills 6/3/ ,566,222 Rights Starcoms Plc 12/3/ ,654,433 Staff Incentive Scheme Neimeth International Plc 16/3/ ,318,637 Rights Access Bank Plc 20/3/2012 Union Bank of Nigeria Plc 11/4/2012 Poly Products Plc 16/4/2012 5,000,000,000 14,402,681,471 10,000,000 Merger Placing Bonus Afromedia Plc 20/4/ ,549,726 Bonus FCMB Plc 23/4/2012 2,440,678,830 Bonus UBA Plc 2/5/ ,693,873 Bonus Mobil Oil Plc 2/5/ ,099,210 Bonus Dangote Cement Plc 14/5/2012 1,549,137,037 Bonus

24 NAHCO Plc 14/5/ ,093,750 Bonus RT Briscoe Plc 16/5/ ,059,480 Bonus Unity Bank Plc 5/6/2012 3,495,153,610 Bonus International Breweries Plc 11/6/2012 1,149,611,749 Rights Ecobank Transnational Inc 20/7/ ,259,881 Merger Unity Kapital Assurance Plc 25/7/ ,666,666 Bonus Niger Insurance Plc 27/7/2012 2,677,079,286 Rights issue Nigerian Breweries Plc 15/8/ ,092 Merger Premier Paints Plc 15/8/ ,000,000 Special Placing Vono Products Plc 7/9/ ,651,183 Rights Studio Press Nig Plc 24/10/ ,104,285 Special Placing Stanbic IBTC Holding Plc 23/11/ ,000,000,000 Listing FBN Holdings Plc 26/11/ ,632,084,357 Listing FBN MONEY MARKET FUND 24/12/ ,984,400 FBN FIXED INCOME FUND DELISTED ENTITIES 24/12/2012 1,752,200 Memorandum Listing Memorandum Listing Name of Entity Date Delisted FinBank Preference Shares 09/02/2012 Stanbic IBTC Bank Plc 23/11/2012 Ecobank Nigeria Plc 20/7/2012 First Bank of Nigeria Plc 26/11/2012 Hallmark Paper Products Plc 19/12/2012 Udeofson Garment Fact 19/12/2012 Abplast Products Plc 19/12/2012