Sterling Financial Holdings Company Plc has attributed the delay in release of its audited financial statements for the period ended December 31, 2023 to its transformation to a holding company structure.
Company Secretary of the Holdco, Temitayo Adegoke, said the board of directors has approved the report for December 31, 2023, presented to it by the management while regulatory approval is pending.
“The Audited Financial Statements for the year ended 31st December 2023, were approved by the Board on 22 March 2024 and other required approvals are being processed,” Adegoke explained in a statement.
He said that the Company will publish its 2023 AFS after the regulatory filing due date and upon receipt of the requisite approvals.
Going by listing regulations, it is expected that Sterling Holdco Plc will publish its financial details for year end 2023 latest by March 31, 2024.
Meanwhile, in continuing compliance with the post-listing requirements of the NGX, the previously announced closed period which commenced on 1st January 2024 will continue until 24 hours after the Audited Financial Statements for the year ended 31st December 2023 and Unaudited Financial Statements for the period ended 31st March 2024 are released on the floor of the NGX.
Consequently, Directors and other insiders of Sterling Financial Holdings Company Plc are restricted from dealing in the securities of the Company during the closed period.