REPORT DATE: October 03, 2014

Transcription

1 REPORT DATE: October 03, 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: o Released Financials o Early Filers of Audited Accounts o Delinquent Filers of Audited Accounts o Delinquent Filers of Quarterly Reports o Companies slated for Delisting/Restructuring o Companies that breached the Listings Rules of The Exchange o Enforcement Actions by The Exchange o Companies that have been granted waivers to comply with the Free Float requirements o Applications approved by the Quotations Committee of The Exchange o Meetings of Companies 1

2 RELEASED FINANCIALS Details of the released financials can be found on The Nigerian Stock Exchange website ( EARLY FILERS Early filers are companies that file their financial statements at least two weeks before the due date. 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 AUDITED ACCOUNTS AUDITED S/N NAME OF COMPANY YEAR END DUE DATE FILED DATE 1 Forte Oil Plc December 31, 2013 March 31, January 31, 2. Nigerian Breweries Plc December 31, 2013 March 31, February 13, 3 McNichols Consolidated Plc December 31, 2013 March 31, February 14, 4 Africa Prudential Registrars Plc December 31, 2013 March 31, February 17, 5 Nestle Nigeria Plc December 31, 2013 March 31, February 26, 6 Transnational Corporation Plc December 31, 2013 March 31, February 28, 7 Zenith Bank Plc December 31, 2013 March 31, March 12, 8 Guaranty Trust Bank Plc December 31, 2013 March 31, March 14, 9 Cadbury Nigeria Plc December 31, 2013 March 31, March 14, 10 Courteville Business Solutions Plc December 31, 2013 March 31, March 14, QUARTERLY ACCOUNTS S/N NAME OF COMPANY QUARTER END DUE DATE FILED DATE 1 Unity Bank Plc Half year August 15, July 2, 2. NPF Microfinance Bank Plc Half year August 15, July 8, DEFAULTERS (AUDITED ACCOUNTS) The Exchange has identified the companies listed on Schedules two and three as companies that fell short of the minimum listing standards in terms of timely disclosure of their audited annual financial performance and are operating or operated Below the Listing Standards () or Awaiting Regulatory Approval (ARA) of The Exchange in the course of the year. 2

3 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 2013/ Audited Accounts S/NO COMPANY YEAR END SYMBOL REMARKS 1. African Alliance Insurance Plc Dec Non Rendition of Audited Financial 2. Equity Assurance Plc Dec ARA Non Rendition of Audited Financial 3. Great Nigeria Insurance Plc Dec ARA Non Rendition of Audited Financial 4. International Energy Insurance Dec Non Rendition of Audited Financial 5. Mutual Benefit Assurance Plc Dec Non Rendition of Audited Financial 6. NEM Insurance Company Plc Dec ARA Non Rendition of Audited Financial 7. Staco Insurance Plc Dec Non Rendition of Audited Financial 8. Standard Alliance Plc Dec Non Rendition of Audited Financial 9. Unity Kapital Assurance Plc Dec Non Rendition of Audited Financial 10 Universal Insurance Company Plc Dec Non Rendition of Audited Financial 11 Omatek Ventures Plc Dec Non Rendition of Audited Financial 12 Multi-Trex Integrated Foods Plc April Non Rendition of Audited Financial Statements 2012 and Aso Savings & Loans Plc December Non Rendition of Audited Financial 14 Costain (W.A) Plc March Non Rendition of Audited Financial 15 Thomas Wyatt Nigeria Plc March Non Rendition of Audited Financial Statements 16 Lennards (Nigeria) Plc September Non Rendition of Audited Financial 17 DN Tyre & Rubber Plc September Non Rendition of Audited Financial 18 Deap Capital Mgt & Trust Plc September Non Rendition of Audited Financial 19 Juli Plc December Non Rendition of Audited Financial 3

4 20 Evans Medical Plc December Non Rendition of Audited Financial 21 Costain (W.A.) Plc March Non Rendition of Audited Financial Statements 22 Premier Breweries Plc March Non Rendition of Audited Financial Statements 23 Aso Savings & Loans Plc March Non Rendition of Audited Financial Statements 24 Nigerian German Chemical Plc March Non Rendition of Audited Financial and DEFAULTERS (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. SCHEDULE THREE 1 st Qtr Accounts S/NO COMPANY QTR END SYMBOL REMARKS 1. Greif Nigeria Plc Jan 2. Multi-Trex Integrated Foods Plc July 3. Nigerian Enamelware Company Plc July 4. IHS Nigeria Plc July 5. Costain (West Africa) Plc June 6. G Cappa Plc June 7. Roads Nigeria Plc June 8. Golden Guinea Breweries Plc June 9. Premier Breweries Plc June 10. Aso Savings & Loans Plc June 11. Nigerian German Chemical Plc June 4

5 12. Thomas Wyatt Nigeria Plc June 13. Smart Product Nigeria Plc March 14. Capital Oil Plc March 15. Juli Plc March 16. Fortis Microfinance Bank Plc March 17. African Alliance Insurance Plc March 18. Consolidated Hallmark Insurance Plc March 19. Cornerstone Insurance Plc March 20. Equity Assurance Plc March 21. Great Nigeria Insurance Plc March 22. International Energy Insurance Plc March 23. Lasaco Assurance Plc March 24. Mutual Benefit Assurance Plc March 25. Nem Insurance Company Plc March 26. Niger Insurance Company Plc March 27. Staco Plc March 28. Standard Alliance Plc March 29. Unic Insurance Plc March 30. Unity Kapital Assurance Plc March 31. Universal Insurance Company Plc March 32. Wapic Insurance Plc March 33. Resort Savings & Loans Plc March 34. Evans Medical Plc March 5

6 35. E-Tranzact International Plc March 36. Omatek Ventures Plc March 37. Austin Laz & Company Plc March 38. Beta Glass Company Plc March 39. Paints And Coatings Manufacturing Plc March 40. Ikeja Hotel Plc March 2 nd Qtr Accounts S/NO COMPANY QTR END SYMBOL REMARKS 1 Greif Nigeria Plc April 2 Capital Oil Plc June 3 Juli Plc June 4 Smart Products Nigeria Plc June 5 Navitus Energy Plc June 6 P.S Mandrides & Company Plc June 7 Premier Breweries Plc June 8 African Alliance Insurance Plc June 9 Consolidated Hallmarks Insurance Plc June 10 Equity Assurance Plc June 11 Fortis Microfinance Bank Plc June 12 Great Nigeria Insurance Plc June 13 International Energy Insurance Plc June 14 June 6

7 Lasaco Assurance Plc 15 Mutual Benefit Assurance Plc June 16 Nem Insurance Company Plc June 17 Niger Insurance Company Plc June 18 Resort Savings & Loans Plc June 19 Staco Plc June 20 Standard Alliance Plc June 21 Unity Kapital Assurance Plc June 22 Universal Insurance Company Plc June 23 Ekocorp Plc June 24 Evans Medical Plc June 25 E-Tranzact International Plc June 26 Omatek Ventures Plc June 27 African Paints (Nigeria) Plc June 28 Nigerian Ropes Plc June Paints And Coatings Manufacturing 29 Plc June 30 Premier Paints Plc June 31 C & I Leasing Plc June 32 Ikeja Hotel Plc June 33 Deap Capital Mgt & Trust Plc March 7

8 3 rd Qtr Accounts S/NO COMPANY QTR END SYMBOL REMARKS 1. Jan Non Rendition of Third Quarter Multi-Trex Integrated Foods Plc 2. Jan Non Rendition of Third Quarter HIS Nigeria Plc 3. Mar Non Rendition of Third Quarter Tourist Company Of Nigeria Plc 4. Mar Non Rendition of Third Quarter Interlinked Technologies Plc COMPANIES SLATED FOR DELISTING/RESTRUCTURING The companies listed on Schedule four are slated for delisting/restructuring for various reasons stated. SCHEDULE FOUR DELISTING IN PROCESS 1 Pinnacle Point Group Plc DIP Company in liquidation process Regulatory Delisting in progress for non-compliance with post- 2 Afrik Pharmaceutical Plc DIP listing obligations 3 The Tourist Company of Nigeria Plc DIP Voluntary delisting due to free float deficiency 4. Adswitch Plc DIP Voluntary delisting due to harsh economic climate 5 Cappa & D alberto Plc DIP Voluntary delisting Jos International Breweries Plc DIP The Company has been served with a delisting notice. 6 Stokvis Nigeria Plc DIP The Company has been served with a delisting notice. 7 Nigerian Sewing Machine Plc DIP The Company has been served with a delisting notice. 8 DIP The Company has been served with a delisting notice. 9 G Cappa Plc DIP The Company has been served with a delisting notice. 10 Big Treat Plc DIP The Company has been served with a delisting notice. 11 Goldlink Insurance Plc DIP The Company has been served with a delisting notice. 12 Afroil Plc DIP The Company has been served with a delisting notice. 13 Starcomms Plc DIP The Company has been served with a delisting notice. 14 Golden Guinea Breweries Plc 8

9 15 UTC Nigeria Plc 16 IPWA Plc 17 Nigerian Wire & Cable Plc 18 Daar Communications Plc 19 West Africa Glass Industries Plc 20 Rokana Industries Plc 21 Mtech Plc 22 Investment and Allied Insurance Plc 23 FTN Cocoa Processors Plc DIP DIP DIP DIP DIP DIP DIP DIP DIP The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. The Company has been served with a delisting notice. RESTRUCTURING 1 Aluminium Manufacturing Company of Nigeria Plc 2 Nigerian German Chemical Plc 3 Mti Plc RESTRG RESTRG RESTRG 5 Beco Petroleum Product Plc RESTRG 6 Unic Insurance Plc RESTRG The Company has obtained NSE s approval to restructure. The Company has obtained NSE s approval to restructure. The Company has obtained NSE s approval to restructure. The Company has obtained NSE s approval to restructure. The Company has obtained NSE s approval to restructure. BREACH OF VOLUNTARY DELISTING PROCESS CAPPA & D ALBERTO NIGERIA PLC Cappa & D Alberto Nigeria Plc released itself from compliance with the obligations inherent of a listed company as it failed to follow through the entire voluntary delisting process of The Exchange, which includes inter alia, paying off dissenting shareholders who opted to exit the company following the resolution passed by the majority shareholders on March 24, 2009, to delist. The resolution passed by the majority shareholders at the Extra- Ordinary General Meeting of March 24, 2009, does not exempt Cappa & D Alberto Nigeria Plc from complying with regulatory obligations. The Exchange will take appropriate legal steps to enforce its Rules and protect the interest of Investors. 9

10 DISCLOSURE VIOLATIONS UNAUTHORISED PUBLICATIONS & NON-DISCLOSURE OF MATERIAL INFORMATION Every listed company 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 from The Exchange before publications that affect shareholders interest are made in the media. In addition, companies are also required to disclose material information to The Exchange and publish some of that information in their Annual Reports. The companies listed in Schedules five and six breached these provisions of the Listing Rules and were sanctioned accordingly. The Exchange applied the sanctions prescribed in Rules and the companies have discharged their financial obligations. SCHEDULE FIVE PUBLICATION WITHOUT NSE S PRIOR WRITTEN APPROVAL IN NAME OF COMPANIES NATURE OF PUBLICATION Ecobank Transnational Incorporated Notice of Acquisition Sterling Bank Plc Appointment of Directors NON- DISCLOSURE OF INFORMATION IN NAME OF COMPANIES Oasis insurance Plc NATURE OF PUBLICATION Non-disclosure of the Substantial shareholding of Oasis Group and Metrovest Ltd in the 2010, 2011 and 2012 Annual Reports and Account. PUBLICATION WITHOUT NSE S PRIOR WRITTEN APPROVAL IN 2013 NAME OF COMPANIES NATURE OF PUBLICATION 1 Custodian & Allied Insurance Plc Notice of Court Ordered Meeting 2 Crusader Insurance Plc Notice of Court Ordered Meeting 3 Wapic Insurance Plc Appointment of Directors 4 Honeywell Flour Plc Unauthorized Publication of EGM 5 Forte Oil Plc Unauthorized publication of notice of EGM NON- DISCLOSURE OF INFORMATION NAME OF COMPANIES NATURE OF PUBLICATION 1 Julius Berger Nigeria Plc Non-disclosure of the Substantial shareholding of Oasis 10

11 Petroleum Company Limited in the 2011 Annual Reports and Account. Oasis Petroleum Company Limited holds 9.8% of Julius Berger shares. 2 Sterling Bank Plc Non-disclosure of Bond Issuance to The Exchange 3 Sterling Bank Plc Non-compliance with NSE directives 4 Sovereign Trust Insurance Plc Non-compliance with NSE directives 5 Forte Oil Plc Non-Compliance with NSE rules SCHEDULE SIX SANCTIONS FOR DEFAULT FILINGS OF FINANCIAL STATEMENTS The information published in schedules eight and nine are the list of companies that filed their 2011 and 2012 Financial Statements after the regulatory due date. The Exchange applied sanctions in accordance with the provisions of Section 14 of Appendix 111 of the Listing Rules. DEFAULT FILINGS DEFAULT FILINGS OF AUDITED ACCOUNTS S/NO NAME OF COMPANIES FISCAL YEAR PENALTY (N) 1. International Energy Insurance Plc December ,400, Aso Savings and Loans Plc December , Abbey Building Society Plc December , Ikeja Hotels Plc December ,500, Interlinked Technologies Plc June ,900, National Salt Co. of Nig. Plc December , Austin Laz & Co. Plc December , Studio Press Plc December , NCR Plc December , Regency Alliance Insurance Plc December , WAPIC Insurance Plc December , Oasis Insurance December , AIICO Insurance Plc December , FTN Cocoa Processing Plc December ,100, FTN Cocoa Processing Plc December , Niger Insurance Plc December ,000, Continental Reinsurance Plc December , Law Union & Rock Insurance Plc December ,

12 19. Sovereign Trust Insurance Plc December ,100, Fortis Microfinance Bank Plc December ,100, C & I Leasing Plc December ,200, Linkage Assurance Plc December ,200, Royal Exchange Plc December ,400, Guinea Insurance Plc December ,500, Prestige Assurance Plc December ,600, John Holt Plc September ,900, Conoil Plc December ,400, Daar Communication Plc December ,100, Oando Plc December ,100, Ikeja Hotel Plc December ,100, Lasaco Insurance Plc December ,100, DEFAULT FILINGS AUDITED ACCOUNTS DEFAULT FILINGS S/NO NAME OF COMPANIES FISCAL YEAR PENALTY (N) 32. Costain (West Africa) Plc March ,600, Transnational Corporation Plc December , MRS Oil Plc December , Multiverse Plc December , May & Baker Plc December , Premier Paints Plc December , Dangote Flour Mills Plc December , UBA Plc December , Wapic Insurance Plc December , Oando Plc December , Consolidated Hallmark Insurance Plc December , NCR (Nigeria) Plc December , Studio Press Plc December , Wema Bank Plc December ,100, Conoil Plc December ,500, Red Star Express Plc March , AIICO Insurance Plc December ,500, Avon Crowncap & Containers Plc March , Capital Hotel Plc December ,600, Fortis Micro Finance Plc December ,800, Unity Kapital Insurance Plc December ,100,

13 53. Custodian & Allied Insurance Plc December ,200, Royal Exchange Plc December ,600, C & I Leasing Plc December ,800, Cornerstone Insurance Plc December ,800, Sovereign Trust Insurance Plc December ,400, Eterna Plc December ,600, Regency Alliance Insurance Plc December ,500, Nigerian German Chemicals Plc March ,800, Law Union and Rock Plc December ,700, Prestige Assurance Plc December , Omatek Ventures Plc December , Nigerian Enamelware Plc April ,300, I.H.S. Plc April ,600, Mutual benefit Assurance Plc December ,400, NEM Insurance Plc December ,500, Linkage Assurance Plc December ,600, Standard Alliance Insurance Plc December ,600, NEM Insurance Plc December ,500, Lasaco Assurance Plc December ,600, Staco Insurance Plc December ,500, Equity Assurance Plc December ,200, Niger Insurance Plc December ,200, Great Nigeria Insurance Plc December ,800, Guinea Insurance Plc December ,800, African Alliance Insurance Plc December ,000, Universal Insurance Plc December ,200, C & I Leasing Plc December ,800, 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 three companies that have free float deficiencies. These companies applied for waivers from the Quotations Committee of Management specifically provided compliance plans with tentative timelines to support their requests. The Quotations Committee of Management considered and approved an extended timeframe for the companies to regain compliance with the listing requirement. The companies are however required to 13

14 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 nine. SCHEDULE SEVEN COMPANIES WITH FREE FLOAT DEFICIENCIES ISSUER % OF FREELOAT COMPLIANCE DUE DATE Dangote Cement Plc 7.19 October 26, 2016 Union Bank of Nigeria Plc June 30, 2017 Capital Hotel Plc 2.23 April 20, 2016 Great Nigerian Insurance Plc July 8, 2016 Chellerams Plc 5.20 December 31, Nigerian Ropes Plc January 7, 2015 Aluminium Extrusion Industries Plc March 4, 2015 TRANSPARENCY DISCLOSURE: APPLICATIONS APPROVED The Quotations Committee of Management considered and approved the following Applications but the instruments are yet to be listed on the Daily Official List. SCHEDULE EIGHT APPROVALS IN BUT YET TO BE LISTED LIST OF APPLICATIONS APPROVED BY QCN ON SEPTEMBER 18, ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE INITIAL PUBLIC OFFERING Transcorp Hotels Plc Initial Public Offering of 800,000,000 ordinary shares of 50k each at N10.00 per share and listing of the company and its entire issued shares BGL Securities Ltd; UBA Securities Ltd; Cowry Securities Ltd; Milestone Capital Management Ltd UBA Capital Plc; Lead Capital Plc and BGL Capital Limited Oando Plc Conversion into 215,625,000 Ordinary shares of 50k each at N12.00 per share of 25 convertible promissory notes in favour of Emerging Capital Partners Fll O& O Ltd Mansard Insurance Plc 500,000,000 ordinry shares of 50k each of Mansard CONVERSION Vetiva Securities Ltd OPTION SCHEME Lead Securities Ltd 14 Vetiva Capital Management Limited Lead Capital Plc

15 Union Bank of Nigeria Plc Ecobank Transnational Incorporated Insurance Plc Share Option scheme Block Divestment of 3,537,625,211 ordinary shares of 50k each at N8.16 per share by AMCON in favour of Atlas Mara Co- Nvest Ltd Block Divestment of 1,767,612,630 ordinary shares at N20.01 per share by AMCON in favour of Qatar National Bank BLOCK DIVESTMENT Chapel Hill Denham Securities Ltd Stanbic IBTC Stockbrokers Ltd; FBN Securities Ltd Not Applicable Not Applicable LIST OF APPLICATIONS APPROVED BY QCN ON AUGUST 29, ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE PLACING Union Dicon Salt Plc Special Placing of 41 million ordinary shares of 50k each at N0.50 per share in favour of CBO Capital Partners Limited Cordros Capital Limited Cordros Capital Limited BONDS African Development Bank N15 billion Fixed Rate Senior Unsecured Notes Due 2020 in the N160 Medium Term Programme Stanbic IBTC Stockbrokers Limited Stanbic IBTC Capital Limited; Rand Merchant Bank Nigeria Limited RIGHTS ISSUE Sovereign Trust Insurance Plc Rights Issue of 2,290,585,798 ordinary shares of 50k each at Par Diamond Bank Plc Rights Issue of 8,685,145,863 Ordinary Shares of 50k Each at N5.80 per Share Lafarge Africa Plc: Block Divestment of 1,312,444,260 ordinary shares of 50k each in Ashakacem Plc by Lafarge Nigeria (UK) Ltd in favour of Lafarge Africa Plc Dynamic Portfolio Limited BLOCK DIVESTMENT Stanbic IBTC Stockbrokers Limited; FBN Securities Ltd Pilot Securities Limited; Capital Assets Limited; Santrust Securities Limited FCMB Capital Markets Limited and Cordros Capital Limited Stanbic IBTC Capital Limited and FBN Capital Limited Chapel Hill Advisory Partners Limited 15

16 LIST OF APPLICATIONS APPROVED BY QCM ON JUNE 27, ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE ETF Stanbic IBTC ETF 30 Initial Public Offering of 100,000,000 Units of Stanbic IBTC ETF 30 at N per unit Stanbic IBTC Stockbrokers Limited Stanbic IBTC Capital Limited SFS Fixed Income Fund Initial Public Offering of 500,000,000 units at N1 per unit of SFS Fixed Income fund by Securities Africa Financial Limited Champion Breweries Plc Rights Issue of 6,300,000,000 ordinary shares of 50k each at N1.85 per share Oasis Insurance Plc Take-Over Bid by FBN Life Assurance Limited through the acquisition of up to 1,872,911,465 ordinary shares of 50k each at 55k per share of Oasis Insurance Plc MEMORANDUM LISTING RIGHTS ISSUE Securities Africa Financial Limited Stanbic IBTC Stockbrokers Limited TAKE OVERBID FBN Securities Limited Skye Financial Services Ltd Stanbic IBTC Capital Limited Not Applicable LIST OF APPLICATIONS APPROVED BY QCM ON JUNE 2, ISSUER Lotus Halal Equity Exchange Traded Fund Unity Bank Plc CAPITAL RAISING STOCK BROKER METHOD ETF 100,000,000 Units of Vetiva Securities Lotus Halal Equity Limited Exchange Traded Fund at the price of 1/200th of LII Index on the day preceding the subscription HYBRID OFFER Rights Issue Newdevco Investment 38,446,689,710 & Securities Company ordinary shares of 50k Limited, Capital Assets each at N0.50 per Limited and APT 16 ISSUING HOUSE Vetiva Capital Management Limited Interstate Securities Limited

17 share and special Placing of 40,000,000,000 ordinary share each at N0.50 per share Securities Limited LIST OF APPLICATIONS APPROVED BY QCM ON FEBRUARY 11, ISSUER Great Nigeria Insurance Plc IHS Nigeria Plc CAPITAL RAISING STOCK BROKER METHOD Representation of Independent Securities Block Divestment of Ltd. 2,870,614,035 ordinary shares of 50 Kobo Each of Great Nigeria Insurance Plc by Wema Bank Plc VOLUNTARY DELISTING Consideration and Atlass Portfolios approval of Voluntary Limited Delisting of the Company and its entire Issued Shares from the Daily Official List ISSUING HOUSE Not Applicable Not Applicable APPROVED IN 2013 BUT YET TO BE LISTED APPLICATIONS APPROVED ON SEPTEMBER 25, 2013 ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE RIGHTS ISSUE Evan Medical Plc Rights Issue of 486,472,800 ordinary shares of 50k each at N2.50 per share Reward Investments & Services Limited, Securities Africa Financial Limited and GTI Securities Limited Meristem Securities Limited and Skye Financial Services Limited 17

18 APPLICATIONS APPROVED ON SEPTEMBER 25, 2013 ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE Pharma-Deko Plc McNichols Consolidated Plc Omoluabi Savings & Loans Plc Application for approval and listing of a Rights Issue of 150,000,000 ordinary shares of 50k each at N1.80 per share RIGHTS ISSUE Integrated Trust Investment Limited and ICMG Securities Limited INITIAL PUBLIC OFFER (IPO) Application for approval of IPO Morgan Capital Securities Limited of 230,000,000 ordinary shares of 50k each at N1.55 per share and listing of the Company and its entire paid up share capital Application for approval and Morgan Capital Securities Limited Listing of IPO of 3,000,000,000 ordinary shares of 50k each at N0.55 per share of the Issuer and its entire issued shares Integrated Trust & Investment Limited Morgan Capital Securities Limited and CashCraft Assets Management Limited Morgan Capital Securities Limited APPLICATIONS APPROVED ON MAY 27, 2013 ISSUER CAPITAL RAISING METHOD STOCK BROKER ISSUING HOUSE RIGHTS ISSUE Resort Savings & Loans Plc Rights Issue of 3,776,577,416 ordinary shares of 50k each at par and Initial Public Offering (IPO) of 3,160,218,169 ordinary shares of 50k each at N0.51 per share Greenwich Securities Limited, Capital Assets Limited, Dunbell Securities Limited, Dun Loren Merrifield Securities Limited, Imperial Assets Managers Limited, Resort Securities & Trust Limited and Trust Yield Securities Limited Greenwich Trust Limited ISSUER Flour Mills of Nigeria Plc APPLICATIONS APPROVED ON MARCH 25, 2013 CAPITAL RAISING STOCK BROKER METHOD Scheme of Merger between Flour Mills of Nigeria Plc and Niger Mills Company Limited MERGER AND ACQUISITION 18 Chapel Hill Denham Securities Limited ISSUING HOUSE Chapel Hill Advisory Partners Ltd

19 APPROVED IN 2012 BUT NOT UTILIZED APPLICATIONS APPROVED ON NOVEMBER 1, 2012 ISSUER CAPITAL RAISING METHOD STOCKBROKERS ISSUING HOUSE RIGHTS ISSUE Prestige Assurance Plc Rights Issue of 2,508,315,438 Ordinary Shares of 50k each at N0.50 per Share Imperial Asset Managers Limited Nigerian Stockbrokers Limited, Sterling Capital Markets Limited APPROVED APPLICATIONS AS AT SEPTEMBER 28, 2012 ISSUER CAPITAL RAISING METHOD STOCKBROKERS ISSUING HOUSE Cornerstone Insurance Plc (aborted) MERGERS Scheme of Merger between Cornerstone Insurance Plc and Linkage Insurance Plc CSL Stockbrokers Limited FCMB Capital Market Limited NEW ISSUES SINCE 2012 COMPANY/ISSUER DATE LISTED VALUE (N) SHARES ADDED (VOLUME) DESCRIPTION Federal Government of Nigeria 14/08/ 15,000,000,000 Not Applicable 13.05% FGN AUG 2016 (Supplementary) Federal Government of Nigeria 14/08/ 50,000,000,000 Not Applicable 14.20% FGN MAR 2024 (Supplementary) Federal Government of Nigeria 13/08/ 35,000,000,000 Not Applicable % FGN JUL 2034 (New) Dana Group of Companies Plc 11/06/ 4,500,000,000 Not Applicable Corporate Bond Julius Berger Nigeria Plc 2/06/ Not Applicable 12,000,000 Bonus Federal Government of Nigeria 27/05/ 35,000,000,000 Not Application Government Bonds (supplementary) Federal Government of Nigeria 27/05/ 35,000,000,000 Not Applicable Government Bonds (Supplementary) Caverton Offshore Support Group Plc 20/05/ Not Applicable 3,350,509,750 Introduction UACN Property Development 343,749,999 Bonus 13/05/ Not Applicable Company Plc Nigerian Aviation Handling Company 12/05/ 2,050,000,000 Not Applicable Corporate Bond 19

20 Plc Seplat Petroleum Development 10,026,183 Oversubscription of IPO 9/05/ Not Applicable Company Plc Ekiti State Government of Nigeria 2/05/ 5,000,000,000 Not Applicable Government Bonds Nasarawa State Government of Nigeria 2/05/ 5,000,000,000 Not applicable Government Bonds Seplat Petroleum Development 543, 284,130 IPO 14/04/ Not Applicable Company Plc Niger State Government 09/04/ 12,000,000,000 Not Applicable Government Bonds Kogi State Government 03/04/ 5,000,000,000 Not Applicable Government Bonds Federal Government of Nigeria 31/03/ 50,000,000,000 Not Applicable Government Bonds Federal Government of Nigeria 31/03/ 35,000,000,000 Not Applicable Government Bonds (supplementary ) Vetiva Griffin 30 ETF 14/03/ Not Applicable 159,400,000 ETF (Offer for Subscription) Oando Plc 17/02/ Not Applicable 2,046,706,324 Placing Neimeth International 261,591,888 Bonus 12/02/ Not Applicable Pharmaceuticals UBA Capital Plc 27/01/ Not Applicable 2,000,000,000 Rights La Casera Company Plc 22/01/ 3,000,000,000 Not Applicable Corporate Bond Sterling Bank Plc 20/01/ Not Application 5,888,949,162 Rights Africa Prudential Registrars Plc 13/01/ Not Applicable 1,000,000,000 Rights FSDH Funding SPV Plc: 09/01/ 5,530,000,000 Not Applicable Corporate Bond Osun State Government of Nigeria 08/01/ 11,400,000,000 Not Applicable Government Bond Lagos State Government of Nigeria 13/12/ ,500,000,000 Not Applicable Government Bond Berger Paints Nigeria Plc 13/12/2013 Not Applicable 72,455,862 Rights Infinity Trust Mortgage Bank Plc 11/12/2013 Not Applicable 4,170,445,720 Introduction Cadbury Nigeria Plc 10/12/2013 Not Applicable 1,186,079 Scheme Shares Computer Warehouse Group Plc 15/11/2013 Not Applicable 2,524,826,359 Introduction Wema Bank Plc 21/10/2013 Not Applicable 26,667,123,333 Placing Aso Savings Loans Plc 11/10/2013 Not Applicable 6,062,585,126 Rights Wapic Insurance Plc 18/09/2013 Not Applicable 5,444,590,269 Rights Ecobank Transnational Inc Plc 05/09/2013 Not Applicable 3,125,000,000 Placing African Paints Nigeria Plc 28/08/2013 Not Applicable 108,461,038 Rights Transnational Corporation of Nigeria 12,906,999,142 Rights 27/08/2013 Not Applicable Plc Courteville Business Solutions Plc 10/7/2013 Not Applicable 592,000,000 Bonus UACN Property Development Not Applicable IPO 01/07/ ,000,000,000 Company Plc FCMB Group Plc 24/06/2013 Not Applicable 19,802,710,754 Introduction Oando Plc 10/06/2013 Not Applicable 4,548,236,276 Rights First City Monument Bank Plc 05/06/2013 Not Applicable Bonus 432,445,720 UAC of Nigeria Plc 27/05/2013 Not Applicable Bonus 320,144,064 Cap Plc 24/05/2013 Not Applicable Bonus 140,000,000 20

21 Okomu Oil Palm Plc 14/05/2013 Not Applicable 476,955,000 Bonus BOC Gases Plc 14/05/2013 Not Applicable 23,124,706 Bonus Custodian & Allied Insurance Plc 13/05/2013 Not Applicable 781,017,387 Scheme Shares Livestock Feeds Plc 25/04/2013 Not Applicable 800,000,000 Placing Osun State Government 23/04/ ,000,000,000 Not Applicable Government Bond Rak Unity Petroleum Company Plc 17/04/2013 Not Applicable 43,051,159 Placing C & I Leasing Plc 15/04/ ,000,000 Not Applicable Corporate Bond Flour Mills of Nigeria Plc 11/04/2013 Not Applicable 50,893,281 Scheme Shares Guinea Insurance Plc 28/03/2013 Not Applicable 740,000,000 Placing International Finance Corporation 26/03/ ,000,000,000 Not Applicable Supranational Bond Crusader (Nigeria) Plc 15/02/2013 Not Applicable 3,064,686,154 Conversion of Bond Gombe State Bond 11/02/ ,000,000,000 Not Applicable Government Bond Guinness Nigeria Plc 08/02/2013 Not Applicable 30,962,669 Bonus Lagos State Government 01/02/ ,000,000,000 Not Applicable Government Bond First City Monument Band Plc 28/01/2013 Not Applicable 1,090,839,722 Scheme Shares/Bonus Wapic Insurance Plc 28/01/2013 Not Applicable 2,911,954,418 Scheme Shares Linkage Insurance 18/01/2013 Not Applicable 2,897,207,843 Placing Africa Prudential Registrars Plc 11/01/2013 Not Applicable 1,000,000,000 Listing by Introduction UBA Capital Plc 11/01/2013 Not Applicable 4,000,000,000 Listing by Introduction FBN Fixed Income Fund 24/12/2012 1,752,200,000 Not Applicable Memorandum Listing FBN Money Market Fund 24/12/2012 1,798,440,000 Not Applicable Memorandum Listing FBN Holdings Plc 26/11/2012 Not Applicable 32,632,084,357 Listing Stanbic IBTC Holding Plc 23/11/2012 Not Applicable 10,000,000,000 Listing by Introduction Studio Press Nigeria Plc 24/10/2012 Not Applicable 252,104,285 Placing Vono Products Plc 7/09/2012 Not Applicable 263,651,183 Rights Nigerian Breweries Plc 15/08/2012 Not Applicable 142,092 Scheme Shares Premier Paints Plc 15/08/2012 Not Applicable 48,000,000 Placing Niger Insurance Plc 27/07/2012 Not Applicable 2,677,079,286 Rights Unity Kapital Assurance Plc 25/07/2012 Not Applicable 866,666,666 Bonus Ecobank Transnational Inc 20/07/2012 Not Applicable 401,259,881 Scheme Shares Fortis Microfinance Bank Plc 20/6/2012 Not Applicable 1,630,091,000 Listing By Introduction International Breweries Plc 11/06/2012 Not Applicable 1,149,611,749 Rights Crusader Nigeria Plc Zero Coupon Corporate Bond 14/6/12 1,838,811,700 N/A (Bond) Unity Bank Plc 5/06/2012 Not Applicable 3,495,153,610 Bonus Rt Briscoe Plc 16/05/2012 Not Applicable 196,059,480 Bonus Nigerian Aviation Handling Co. Plc 14/5/2012 Not Applicable 246,093,750 Bonus Dangote Cement Plc 14/5/2012 Not Applicable 1,549,137,037 Bonus UBA Plc 2/5/2012 Not Applicable 646,693,873 Bonus Mobil Oil Plc 2/5/2012 Not Applicable 60,099,210 Bonus UBA Plc 2 nd Tranche 01/05/ ,000,000,000 Not Applicable Corporate Bond FCMB Group Plc 23/4/2012 Not Applicable 2,440,678,830 Bonus Afromedia Plc 20/4/2012 Not Applicable 403,549,726 Bonus 21

22 Poly Products Plc 16/4/2012 Not Applicable 10,000,000 Bonus Union Bank of Nigeria Plc 11/4/2012 Not Applicable 14,402,681,471 Placing Benue State Government 27/3/ ,000,000,000 Not Applicable Government Bond Access Bank Plc 20/3/2012 Not Applicable 5,000,000,000 Scheme Shares Chellarams Plc 20/3/ ,000,000 Not Applicable Corporate Bond Neimeth International Not Applicable 16/3/2012 Pharmaceuticals Plc 482,318,637 Rights Lafarge Wapco Plc 5/03/ ,880,000,000 Not Applicable Corporate Bond Starcomms Plc 12/3/2012 Not Applicable 208,654,433 Staff Incentive Scheme Ekiti State Government 13/3/ ,000,000,000 Not Applicable Government Bond IHS Plc Preference Shares Series Ii 8/3/2012 2,791,454,545 Not Applicable Preference Shares Flour Mills of Nigeria Plc 6/3/2012 Not Applicable 455,566,222 Rights Austin Laz & Co. Plc 29/02/2012 Not Applicable 1,079,860,000 Listing by Introduction Tower Funding Plc Tranche A 09/02/2012 3,630,000,000 Not Applicable Corporate Bond Tower Funding Plc Tranche B 09/02/2012 1,000,000,000 Not Applicable Corporate Bond Oasis Insurance Plc 25/01/2012 Not Applicable 1,500,000,000 Placing 22

23 DELISTED ENTITIES/SECURITIES SINCE 2012 NAME OF ENTITY DATE DELISTED Kwara State Fixed Rate 14% Redeemable Development Bond 06/08/ 9.25% FGN SEP JUN 30/06/ 10.75% FGN MAR 31/03/ 10.50% FGN MAR 19/03/ LAGOS STATE FIXED RATE REDEEMABLE BOND, FEB 09/02/ 0.00% AMC DEC 2013 (SR.1 TR.1) 03/01/ 0.00% AMC DEC 2013 (SR.1 TR.2) 03/01/ 0.00% AMC DEC 2013 (SR1 TR3) 03/01/ Poly Product Plc 12/12/ % FGN NOV /11/ % FGN NOV /11/ % FGN OCT /11/ %+NTB RATE FGN SEP /10/ % FGN JUN /07/2013 First City Monument Bank Plc 24/06/2013 Nigeria Wire Industries Plc 03/06/2013 West African Aluminium Products Plc 03/06/ % FGN MAY /05/ Crusader Nigeria Plc 13/05/2013 Nigerian Bag Manufacturing Company Plc 11/04/ % FGN FEB /03/2013 Crusader (Nigeria) Plc Zero Coupon Convertible Bond. 15/02/ % FGN Jan /01/2013 Hallmark Paper Products Plc 19/12/2012 Udeofson Garment Factory Plc 19/12/2012 Abplast Products Plc 19/12/2012 First Bank of Nigeria Plc 26/11/2012 Stanbic IBTC Bank Plc 23/11/2012 Ecobank Nigeria Plc 20/7/2012 Finbank Preference Shares 09/02/

24 MEETINGS MEETINGS FOR THE MONTH OF NOVEMBER S/N Company Venue Date Time TYPE OF MEETING 1 Studio Press Midas Hotel, Iworoko Road, Ado- November 13, a.m. AGM Ekiti 2 Guinness Nigeria Transcorp Hotels, Calabar November 13, a.m. AGM MEETINGS FOR THE MONTH OF OCTOBER S/N Company Venue Date Time TYPE OF MEETING 1 PZ Cussons Nigeria Plc Transcorp Hotel, Abuja October 9, a.m. AGM 2 Access Bank (EGM) Lagoon Restaurant October 13, a.m. EGM 3 Academy Press 28/32, Industrial Avenue, Ilupeju October 16, AGM Industrial Estate, Lagos on noon 4 DN Tyre JMG Hall, MAN Centre, 5 Eleruwa October 17, a.m. AGM Street, Wemabod Estate, Ikeja Lagos 5 John Holt Rockview Hotel, Apapa October 21, a.m. AGM 6. Lasaco Assurance Kwara Hotels, GRA, Ilorin October 22, a.m. AGM 7. Golden Guinea (EGM) Salt Spring Resort, Enugu Road, October 24, a.m. AGM Abakailiki 8 Oando Plc MUSON Centre, Onikan October 27, a.m. AGM 9 Unic Insurance Plc VGC Recreational Investment Trust October 30, a.m. AGM Ltd, Plot N-2 Road 22A, VGC 10 Prestige Assurance Plc 19, Ligali Ayorinde, St. VI October 30, AGM noon 11 Chellarams Plc Golden Tulip Hotel Festac October 30, a.m. AGM 12 Sovereign Trust Insurance Plc Civic Centre, Ozumba Mbadiwe VI October 31, a.m. AGM 24

25 MEETINGS HELD IN THE MONTH OF SEPTEMBER S/N Company Venue Date Time TYPE OF MEETING 1 International Breweries Kankanfo Conf. Centre, Ibadan September 2, 11.30a.m. AGM Plc 2 Vetiva Griffin 30 Vetiva Capital Mgt Office, 266b September 3, 11.00a.m. AGM Kofo Abayomi St. VI 3 FTN Cocoa Processor Plc Company s Factory, Km 9, September 4, am. AGM Monatan-Iwo Road, Opposite Arcedem, Wofun Olodo, Ibadan 4 N/Nig Flour Mills of Transcorp Hilton Hotel, Abuja September 9, pm AGM Nigeria Plc 5 Union Dicon Salt Plc ECWA Conference Hall, 17 September 9, a.m. AGM Montgomery Road Yaba, Lagos 6. Flour Mills of Nigeria Plc Eko Hotel, VI September 10, pm AGM 7. D.N. Meyer Plc Plot 34, Mobolaji Johnson Avenue, September 11, a.m. AGM Oregun Ind Estate, Alausa, Ikeja 8 Afromedia Plc Lagos Chamber of Commerce, September 11, a.m. AGM Alausa, Ikeja Lagos 9 Honeywell Flour Mills Plc Civic Centre Ozumba Mbadiwe September 16, AGM Victoria Island Lagos 10 Rak Unity Plc Neca House, Hakeem Balogun St. September 17, a.m. AGM CBD Alausa, Ikeja 11 A.G. Leventis Plc Mainland Hotel, Oyingbo September 18, pm AGM 12 Secure Electronics Plc The Events Warehouse, Plot CDE Industrial Crescent, off Town Planning, Ilupeju, Lagos 13 Avon Crown Caps Plc Ijamido Town Hall, Iganmode Rd. Ota, Ogun State 25 September 18, September 22, 14 Seven-Up Bottling Co. Plc MUSON Centre, Onikan, Lagos September 24, 15 Royal Exchange Plc MUSON Centre, Onikan, Lagos September 24, 16 University Press Plc Kakanfo Conf. Centre, Ibadan September 25, 17 Triple Gee & Company Plc Mainland Hotel, Oyingbo Lagos September 25, 18 Roads Nigeria Plc Dankani Guest Palace Hotels, September 25, Kalambaina Road, Sokoto 19 Conoil Plc Uyo September 26, pm AGM a.m. AGM a.m. AGM a.m. AGM a.m. AGM To be AGM determined p.m. AGM To be determined AGM

26 MEETINGS HELD IN THE MONTH OF AUGUST S/N Company Venue Date Time TYPE OF MEETING 1 AIICO Insurance Plc Transcorp Hotel, Calabar August 5, a.m. AGM 2 MRS Oil Plc Federal Palace Hotel, VI August 7, a.m. AGM 3 Aluminium Extrusion Plc Nike Lake, Enugu August 8, a.m. AGM 4. Continental Reinsurance Victoria Crown Plaza August 12, a.m. AGM Plc 5. Vono Products Plc Airport Hotel, Ikeja, Lagos August 13, a.m. AGM 6 Cement Company of Transcorp Hilton, Abuja August 14, a.m. AGM Northern Nigerian Plc 7 Redstar Express Plc Welcome Centre, Int l Airport Rd. August 14, a.m. AGM 8 C & I Leasing MUSON Centre, Onikan Lagos August 14, a.m. AGM 9 Premier Paints Km 2, Ifo/Ibogun Rd Ifo Ogun State August 18, a.m. AGM 10 Law Union & Rock Plc Airport Hotel, Ikeja, Lagos August 19, a.m. AGM 11 SCOA Nigeria Plc Nicon Luxury Hotel, Abuja August 20, a.m. AGM 12 Stanbic IBTC Holdings Plc Transcorp Hilton, Abuja August 21, a.m. AGM 13 Linkage Assurance MUSON Centre, Onikan Lagos August 27, a.m. AGM 14 ABC Transport May Fair Suite, Owerri August 29, a.m. AGM MEETINGS HELD IN THE MONTH OF JULY S/N Company Venue Date Time TYPE OF MEETING 1 NCR Plc MUSON Centre, Onikan Lagos July 2, a.m. AGM 2 Beta Glass Plc Mainland Hotel, Ebute-Metta, lagos July 8, noon AGM 3 Lafarge Wapco Cement City Hall, Lagos July 9, a.m. AGM Plc 4. Abbey Mortgage Bank Plc Protea Hotel, Lekki, Lagos July 11, a.m. AGM 5. Arbico Plc Plot D, Block 7, Ind. Crescent, July 15, a.m. AGM Ilupeju, Lagos 6 Berger Paints Plc Eko Hotel & Suites, VI, Lagos July 17, a.m. AGM 7 Fidson Healthcare Plc Golden Tulip, Festac, Lagos July 17, noon AGM 8 Mcnichols Plc Excellence Hotel, Ogba, Lagos July 17, a.m. AGM 9 Presco Plc Obaretin Estate, Edo State July 22, a.m. AGM 10 Regency Alliance Plc MUSON Centre, Onikan Lagos July 24, a.m. AGM 11 R.T Briscoe Plc Lagos Oriental Hotel, Lagos July 24, a.m. AGM 12 Wapic Insurance Plc Lagoon Restaurant, VI, Lagos July 24, a.m. AGM 13 Coral Income and Growth MUSON Centre, Onikan Lagos July 25, a.m. AGM 14 Smart Products Nigeria Company Board Room. 373, Agege July 30, p.m. AGM 26

27 Plc Motor Road, Challenge, Mushin, Lagos 15 Trans-Nationwide Plc Airport Hotel, Ikeja July 31, a.m. AGM 16 Niger Insurance Plc Kwara Hotel, 9A Ahmadu Bello Way, Tapa, ILorin July 31, a.m. AGM 27