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Nigerian Stock Exchange Suspends Trading on Cadbury's Shares

Source: FLEXNEWS
18/07/2008

18 July 2008 – Media report that Cadbury Nigeria Plc was suspended from trading on the Nigerian Stock Exchange on 17 July, following the decision by Nigeria's Investment and Securities Tribunal to uphold the company's earlier indictment for overstating its financial position between 2002 and 2005.

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The Securities and Exchange Commission had imposed a fine of 21.2 million naira ($180,783) on Cadbury’s Nigerian unit, payable within 21 days of the decision on 28 March, failing which trading of the company’s shares would be suspended.

 



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