The Nigerian Exchange Limited (NGX) has suspended trading in the shares of Golden Guinea Breweries Plc effective Tuesday, May 6, 2025. The suspension comes after the company failed to file its Unaudited Financial Statements for the period ended December 31, 2024, within the required timeframe.

In a market bulletin signed by Godstime Iwenekhai, Head of the Issuer Regulation Department, the NGX informed Trading License Holders and the investing public about the suspension. The bulletin cited Rule 3.1 of the Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules), which outlines the provisions applicable in such cases.

According to the Default Filing Rules, if an Issuer fails to file the relevant accounts by the expiration of the Cure Period, the Exchange will take the following actions:

  1. Send a “Second Filing Deficiency Notification” to the Issuer within two business days after the end of the Cure Period;
  2. Suspend trading in the Issuer’s securities;
  3. Notify the Securities and Exchange Commission (SEC) and the Market within twenty-four hours of the suspension.

The suspension of Golden Guinea Breweries Plc will remain in effect until the company submits the outstanding financial statements as required by the NGX. The move aims to ensure transparency and protect investors by enforcing compliance with the Exchange’s filing regulations.

The NGX emphasizes the importance of timely disclosure of financial information to maintain market integrity and enable investors to make informed decisions. Listed companies are expected to adhere to the stipulated reporting requirements to avoid trading suspensions and other regulatory actions.

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