The Management of Royal Exchange Plc said it might not be able to release its audited financial statements for the year ended December 31, 2023 within the regulatory time frame.
This delay, according to the company, would also affect the timely submission of the unaudited financial statements for the period ending March 31, 2024.
A statement signed by Irene Chukwukelu for Mazars Advisory Services Limited Company Secretaries, confirmed that this year’s audit exercise for the group is yet to be concluded.
“As a holding company with various associates and a subsidiary, the year end audit exercise for the group is yet to be concluded, and this may likely lead to delays in obtaining necessary regulatory approvals before filing the accounts.
“Once all the associates and the subsidiary have obtained approvals for their respective financial statements, consolidation of the group’s accounts for the year ended December 31, 2023, will be concluded, and released to the public and the unaudited financial statements for the period ending March 31, 2024, will be prepared, and approved by the Board of Directors for submission to both the NGX and the Securities &Exchange Commission (SEC),” its stated.
The company expressed optimism of submitting the audited financial statements for the year ended December 31, 2023 and unaudited financial statements for the period ending March 31, 2024, to NGX on or before June 29 and July 29, 2024 respectively.
