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Business News of Friday, 3 January 2020

Source: www.mynigeria.com

Zenith Bank Plc announces close period ahead of FY 2019 results

Zenith Bank Zenith Bank

The Board of Directors of Zenith Bank Plc has announced that the company would observe a close period of trading from Friday, January 3, 2020, until 24 hours after the audited financial results for the period ended December 31, 2019, are released to the public.

The statement, which was disclosed in a notification sent to the Nigerian Stock Exchange, stated that the Board of Directors of the company would hold a meeting on January 28, 2020. Part of the agenda will involve the approval and consideration of the results.

The company stated that the announcement is in line with the post-listing requirements of the Nigerian Stock Exchange for quoted companies.

Top executives, employees, and many others at Zenith Bank have been barred from trading in the company’s shares.

“ Accordingly, no director, employee, person discharging managerial responsibility, and adviser of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the Closed Period,” the statement read.

A close period is a period before the release of a company’s result or financial statement when of course, those with sensitive information are not allowed to trade on the stock. These individuals may include company directors, audit committee members, persons discharging managerial responsibility, employees and consultants with sensitive information