Fidelity Bank Plc says it has commenced preparation to release its half-year 2020 financial result.
The bank, in a statement to the Nigerian Stock Exchange, said the financial statements would be presented to the Central Bank of Nigeria for approval, once the audit process is completed.
The bank also noted that its second half 2020 financials would be made available to the public by August 29.
In the meantime, the tier-2 bank said it would observe a close period from until 24 hours after the H2 financial statement is eventually released.
The implication of the closed period is that all persons with insider knowledge of the company’s affairs will be prohibited from trading the company’s shares.
The bank explained, “Upon completion of the audit, the audited financial statements shall be presented to the Central Bank of Nigeria for approval and thereafter, published in compliance with the provisions of the NSE Rule Book and other relevant statutes and/or regulations. The bank expects to publish its audited financial statements for the half year ended June 30, 2020, on or before August 29, 2020.
“In addition, the trading window for dealings on the bank’s shares shall be closed to all insiders from July 1, 2020, until 24 hours after the release of the bank’s audited financial statements for the half year ended June 30, 2020.”
Recall that the bank released its Q1 financial statement in April this year which showed gross earnings at N51.1bn compared to N48.4bn in Q1 2019. Overall, both profit before tax and profit after tax declined by 1 per cent to N6.6bn and N5.9bn, respectively.