Ikeja Hotels gives notice of board meeting, closed period

Adebayo Obajemu

In a statement just released the Ikeja Hotels Plc has announced that its board of directors meeting will be held via teleconferencing on Wednesday, April 22, 2020, by 11 am to deliberate on the company’s unaudited Financial Statements for the period ended March 31, 2020, among other issues.

The company also announced that it would observe its closed period from Wednesday, April 8, 2020 until 24 hours after the Quarter 1 2020 unaudited Financial Statements have been filed with the Nigerian Stock Exchange.

This was disclosed in a notification, which was sent to the Exchange. The announcement is in line with Rule 17.18 of Part 2 (Issuer’s Rules) of the NSE’s Rule Book (2015) which states that:

“The period of closure shall be effective from fifteen (15) days prior to the date of any meeting of the Board of Directors proposed to be held to consider any of the matters referred to above or the date of circulation of agenda papers pertaining to any of the matters referred to above, whichever is earlier, up to twenty-four hours after the price-sensitive information is submitted to the Exchange.

“The trading window shall thereafter be opened. Every issuer shall notify the Exchange in advance of the commencement of each closed period.”