Shareholders of Dunlop Tyres Plc which had hoped to get some good news about the performance of their company in the last financial year were apparently disappointed because the meeting was stopped by what the company secretary described as internal constraints.
Apparently, the notice of the postponement of the meeting was not sent to the Nigerian Stock Exchange (NSE) early enough to be able to notify investors as a scanned photocopy of the notice was only made available by the NSE after the close of business on the day when the AGM should have taken place.
“That obviously contravenes the rules of the Exchange as regards prompt dissemination of information by quoted companies to investors as required”, a source close to the capital market told ‘the post’.
‘It is an infraction that we expect the NSE to penalize the company for” our source added.
Meanwhile, the company is not yet clear when the new date for the AGM would be as sources close to the company noted that the constraints might be a prolonged one.