Union Bank of Nigeria Plc has notified the Nigerian Stock Exchange (NSE) of its board meeting to consider the bank’s results for the 9 months period ended September 30, 2019, holding on October 21, 2019.
Consequently, the bank is declaring a close period, starting from October 7, 2019 till 24 hours after the result is released.
A Closed period is a period where it is illegal for staff and others with inside information (unpublished price sensitive information) to buy or sell the company’s shares.
The restriction is in accordance with the NSE rulebook Rule 17.17 (a), which states that:
“No Director, person discharging managerial responsibility and Adviser of the Issuer and their connected persons shall deal in the securities of the Issuer when the trading window is closed. Any period during which trading is restricted shall be termed as a closed period.”
In the same vein, fast moving consumer goods company (FMCG), Unilever Nigeria Plc is also informing the exchange and the investing public of its closed period, starting today, October 8 till October 28, 2019, or 24 hours after the results have been filled.
Unilever Nigeria traded N26.70 per share while Union Bank traded N7 during yesterday’s trading sessions on the floor of the NSE.