LAGOS. MARCH 3, 2022
DELAY IN FILING OF AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2021 AND 1ST QUARTER 2022 UNAUDITED FINANCIAL STATEMENTS
Mutual Benefits Assurance Plc. (Mutual Benefits Assurance or the Company) wishes to advise its valued shareholders, the investing public and key stakeholders that the Company will be unable to meet the March 31, 2022 deadline to file audited financial statements for the year ended on December 31, 2021 in accordance with the Listing Rules of the Stock Exchange.
The audit of the financial statements is at an advanced stage, but in view of the COVID-19 pandemic which has necessitated restrictions on gatherings and remote working by key professionals involved in the audit exercise and preparation financial statements, we were unable to complete the audit exercise as planned.
Additionally, we are an entity subject to a lead government regulator (the National Insurance Commission), which means that after the completion of the audit exercise, prior approval from the regulator is required before the results can be released. can be made public.
Considering the factors above, we do not expect the primary regulator to have approved the audited financial statements by March 31, 2022.
The results will be published as soon as we have obtained approval from the main regulator.
As a consequence of the above, it is expected that the unaudited financial statements for the 1st quarter of 2022 will also not be made available to the public in accordance with the listing rules of the Exchange.
The delay is because, in accordance with the Exchange’s Financial Reporting & Periodic Disclosure Rulebook, an issuer must not announce an intermediary account without first filing its latest audited financial statements.
Results will be released as soon as we file the 2021 audited financial statements.
Mutual Benefits Assurance Plc. has a portal dedicated to investors on its corporate site accessible via this link https://www.mutualng.com/plc/about-investor
The Company’s Head of Investor Relations can be contacted by email at [email protected] or by telephone at; +2349054644444 for any investment relationship request.
Mutual Benefits Assurance plc published this content on March 03, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on March 03, 2022 17:00:09 UTC.