Cement maker, Lafarge Africa Plc, has expressed its intention to submit its long-awaited audited financial statements for the year ended December 31, 2018, on or before Friday, June 28, 2019.
The company made this disclosure in a statement issued to the Nigerian Stock Exchange (NSE) to update the investing public on the state of things.
Lafarge Africa, which is listed on the NSE, attributed the delay in filing the accounts to pending actions required for the resolution of key matters relating to the financial results.
Companies trading their shares on the local stock exchange are required by the market rules to file their year-end statements not more than 90 days and for firms running the January to December fiscal year, they are expected to submit their results on or before March 31 of the new financial year.
Nearly three months after its required time and six months into the new fiscal year, Lafarge Africa is yet to file its audited financial statements.
In the notice to the NSE, Lafarge Africa said it has obtained approval of the stock market regulator to file the results at a later date.
“This is to notify our esteemed shareholders and other stakeholders of a further delay by Lafarge Africa Plc to release/publish its annual Audited Financial Statements for the year ended 31st December, 2018 as required by extant Rules of the Nigerian Stock Exchange.
“The delay is necessitated by pending actions required for the resolution of key matters relating to the closure of the company’s annual Audited Financial Statement for the year ended 31st December, 2018.
“Consequently, the approval of the Nigerian Stock Exchange has been sought for the delay/late filing of the Audited Financial Statements.
“This notice has also been published on the company’s website: www.lafarge.com.ng.
“We are optimistic that all the issues will be fully resolved and the Audited Financial Statements will be submitted not later than the 28th of June, 2019,” the notice said.