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Unaudited Financial Results: Union Bank Enters Closed Period, Board Meeting On Monday

The Board of Directors of Union Bank Plc has announced a board meeting. This was disclosed in a statement sent to The Nigerian Stock Exchange (NSE) on Monday 7th October 2019 through the Company's Scribe Somuyiwa Sonubi.

Financial Metrics Nigeria reports that that the group's board meeting will hold on Monday 21st October 2019. One of the top agendas of the board meeting is the approval of the company's Unaudited Financial Statements for the period ended 30th September 2019.

In view of this, the group also declared a closed period. Financial Metrics Nigeria reports that the closed period is a post-listing requirement for companies listed on the exchange market to observe.

The closed period will enable the listed companies to complete and file their financial results to the Central Bank of Nigeria for approval. After the approval they will file the results to the Nigerian Stock Exchange.

The closed period simply means that the group's directors, shareholders, and employees will not be allowed to transact their shares. Also, potential investors and anyone with vital information about the trading of the Union Bank shares will be prohibited from transacting their shares on the exchange market.

Financial Metrics Nigeria reports that the closed period does not affect the day to day operations of the bank as the bank will be open. The closed period only affects the trading of Union Bank Plc shares on the Nigerian Stock Market.

The closed period commenced from Monday 7th October 2019 till 24 hours after the group's Q3 2019 results have been made public.

Financial Metrics Nigeria reports that Union Bank Plc shares price currently stands at N7. 



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