…..Not yet filed with NSE
The Securities and Exchange Commission (SEC) appointed board for Ikeja Hotels Plc, led by Chief Anthony Idigbe, (SAN). It has also approved three years’ arrears of the company’s audited financial statements.
The storm appears to be over for Ikeja Hotels Plc, as its board has approved the long-awaited audited financial statements for the period ended 31st December, 2014 , 2015 and 2016 financial years respectively.
In a statement signed by the company’s compliance officer, Olayiwola Osituwo, released by the Nigerian Stock exchange (NSE) on Monday, the company said that the results were approved by the company’s board at the board meeting held on 21th August, 2017.
“However, the financial statements which have just been approved by the board are yet to be filled with the Nigerian Stock Exchange for dissemination to the general public, the company is hopeful that thee financial statements will be filed on or before Tuesday 19th September, 2017.”
The company, however, reassured its shareholders of its commitment to regularizes its listing obligations to both the regulatory authorities and the shareholders”
Daily Times Nigeria recalls that in May 2017, the SEC dissolve the board of Ikeja Hotels Plc, following its inability to resolve crisis between some majority shareholders and the firm.
It will be recalled that, inaugurating the new board SEC said: “Having failed to resolve its lingering crisis, the commission, in exercise of the powers conferred on it by the Investment and Securities Act, 2007 to protect investors
and the integrity of the securities market, hereby, approves the appointment of an interim board for the company with Chief Anthony Idigbe, SAN, as Interim Chairman.”
The commission mandated the Interim Board among others, to oversee the conduct of a forensic investigation into the affairs of the company.
The commission reiterated that, “It is the commission’s expectation that the shareholders and key Management staff of the company will work with the new team to ensure that the fortunes of the company are restored in the shortest possible time.”