Sterling Bank, Prestige Assurance ban directors from trading in companies’ shares

Sterling Bank and Prestige Assurance have both barred their directors and employees from trading in their companies shares at the stock market.

The ban, according to Sterling Bank and Prestige Assurance in line with the Nigerian Stock Exchange (NSE) listing requirements.

The announcement followed the closure of the companies’ activities and the expected release of their Audited Financial Statements for the year ended December 31, 2020.

Ripples Nigeria gathered that the ban will last until 24 hours after the announcement of the results.

Sterling Bank closed period begins from February 8 but will meet on February 23 to decide on the earnings report.

READ ALSO: Sterling Bank scales regulatory hurdle to become a holding company

“The Bank hereby announces a closed period for trading in its shares from 8th February 2021 until 24 hours after the Audited Financial Statements for the year ended 31st December 2020 are released on the floor of the Nigerian Stock Exchange.

“Consequently, Directors and other insiders of Sterling Bank are restricted from dealing in the securities of the Bank during the closed period,” Sterling Bank said in a statement informing the NSE.

Prestige Assurance closed period will start on February 10 and the company’s board would meet on February 25.

“ln line with the Nigeria Stock Exchange closure rules, there will be a close period from 10th February 2021 till 24 hours after the accounts have been filled,” the company stated.

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