Nigerian energy group Oando says its 2022 financial statements have been finalised and approved by the board, and will be sent to the Reporting Council of Nigeria immediately for regulatory approval before being released to the market.
The interim results for 2023 would be released to the market soon after the 2022 accounts were published, it said in a statement on Tuesday.
“Having approved the 2022 audited financial statements, the audit of the 2023 AFS [annual financial statements] has now commenced, and the company is committed to ensuring that the 2023 AFS is published on or before July 31,” it said.
On April 2, Oando’s shares were suspended by the JSE after it failed to submit its earnings reports on time.
The company, which has listings on both the Nigerian Exchange and the JSE, said it received a letter on March 27 from the JSE suspending the secondary listing of its securities due to its inability to meet the extended deadline to publish its 2022 audited year-end results and the interim results for 2023.
Oando had earlier unsuccessfully asked the JSE for a further extension to file the accounts and requested that it held off its communicated intention to suspend Oando’s listing on the exchange.
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