Trading in the shares of Thomas Wyatt Nigeria Plc on the floor of the Nigerian Exchange (NGX) Limited has been prohibited for now.
This followed failure of the board of the organisation to file the audited financial statements of the company for the year ended March 31, 2025, and the unaudited financial statements for the period ended June 30, 2025.
In a notice to the investing community dated Friday, October 31, 2025, signed by the Head of Issuer Regulation Department, Mr Godstime Iwenekhai, it was disclosed that the embargo could only be lifted if the firm does the needful.
The NGX said it wielded the big stick on Thomas Wyatt Nigeria based on the provisions of Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which states that, “If an Issuer fails to file the relevant accounts by the expiration of the cure period, the exchange will; a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”
Business Post reports that as at the time of the suspension last Friday, shares of Thomas Wyatt were traded at N2.75 per unit, with only 2,500 units transacted by investors.
In the previous day, about 33,241 stocks were traded by market participants at the same value, while on Wednesday, it sold 408,889 units, closing at N2.75 after it gained 3 Kobo.
Thomas Wyatt Nigeria is reputed as the pioneer paper conversion and printing company in country. The Lagos-based firm produces stationary products like calendars, brochures, cards, deposit slips, certificates, envelopes and others.