SEC mandates listed firms to publish periodic returns on websites

The Securities and Exchange Commission (SEC) has issued a directive mandating all publicly-listed companies to publish their financial statements on their websites effective from January 2025.

The commission while issuing the directive in a circular on Thursday, warned that failure to comply with this directive would attract sanctions.
“The Securities and Exchange Commission has observed that public companies file their periodic returns with the Commission and relevant securities exchanges, without simultaneously publishing same on their websites. This omission is a contravention of Rules 39 and 41 of the Commission’s Rules and Regulations,” it said.

While noting that publicly-listed companies routinely file periodic returns with the commission and relevant securities exchanges, the commission also stated that failure to make the financial statements accessible to the investing public on their websites contravenes Rules 39 and 41 of the commission’s rules and regulations.

Meanwhile, the local stock market concluded yesterday’s session on a positive trajectory, with the overall capitalisation increasing by N467 billion. The all-share index (ASI) rose by 770.56 points, representing an increase of 0.77 per cent to close at 101,248.02 points. Also, market capitalisation gained N467 billion to close at N61.375 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: Aradel Holdings, MRS Oil Nigeria, Presco, Nestle Nigeria and Transcorp Hotels.

Investor sentiment, as measured by market breadth, improved as 47 stocks advanced, while 17 declined. Honeywell Flour Mills, UACN and Aradel Holdings recorded the highest price gain of 10 per cent each to close at N5.50, N27.50 and N730.40 kobo respectively.

MRS Oil Nigeria and Nigerian Aviation Handling Company (NAHCO) followed with a gain of 9.96 per cent each to close at N175.6 and N41.95 respectively, while Eterna rose by 9.88 per cent to close at N27.25 kobo.

On the other hand, Tantalizers led the losers’ chart by 9.77 per cent, to close at N1.57 kobo. Multiverse Mining & Exploration followed with a decline of 9.73 per cent to close at N5.10, while John Holt declined by 9.68 per cent to close at N5.88 kobo.

Caverton Offshore Support Group depreciated by 7.76 per cent to close at N2.26, while Omatek Ventures declined by 7.35 per cent to close at 63 kobo. Also, the total volume traded increased by 5.56 per cent to 411.374 million units, valued at N26.304 billion, and exchanged in 10,260 deals. Transactions in the shares of Universal Insurance topped the activity chart with 38.231 million shares valued at N14.847 million. AIICO Insurance followed with 20.983 million shares worth N31.185 million.

Guaranty Trust Holding Company (GTCO) traded 20.407 million shares valued at N1.082 billion. United Bank for Africa (UBA) traded 18.617 million shares valued at N622.962 million, while Prestige Assurance sold 15.553 million shares worth N12.607 billion.