FBN Holdings Plc has set May 30 as deadline for publication of its unaudited FY’2023 and Q1’2024 reports.
This was contained in the company’s notice to the Nigerian Exchange Limited (NGX)
Metrobusinessnews.com (MBN) gathered that among the tier-one banks, including Access Holdings Plc, GTCO Plc, FBNH Plc, UBA Plc, and Zenith Bank Plc, only FBNH has yet to release its full-year and first-quarter results within the required timeframe, a development that has put it under pressure.
It was further gathered that the recent resignation of Adesola Adeduntan, former Managing Director of First Bank of Nigeria Limited, may have contributed to the delay .
Specifically, the Group opted to cancel its extraordinary general meeting (EGM) initially slated for Tuesday, April 30, 2024, which was intended to seek shareholders’ approval for raising an additional N300 billion in capital.
However, according to the notice, the group expects that during the period, necessary approvals would have been obtained from the necessary authorities.
The statement noted that the delays were due to the inability to finalize the audited financial statements (FY’2023 AFS) of the group for the year ended December 31, 2023.
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Part of the statement reads:
FBN Holdings wishes to notify the Nigerian Exchange Limited (NGX) and the investing public that the company is yet to publish its unaudited financial statements for the first quarter ended March 31, 2024 (Q1 2024 UFS) by April 30, 2024, as required under the rules of the NGX.
This is due to the delays in finalising in finalizing the audited financial statements (FY’2023 AFS) of the group for the year ended Dember 31, 2023.
FBNH plans to publish both the FY’2023 and the Q1 2024 UFS on or before May 30, 2024, by which time, we expect that the necessary approval would have been obtained from the primary regulator”.
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