Eterna delays results filing till April

Eterna plc has notified the Nigerian Stock Exchange (NSE) that its 2015 IFRS audited financial statements will not be filed on March 31, 2016. 

The Company said that it is conversant with the rules of the Nigerian Stock Exchange and the Securities and Exchange Commission (SEC) requiring audited financial statements of listed companies to be filed not later than three months after the accounting year end.

The company said its audited financial statements for the year ended December 31, 2015 will be filed not later than April 30, 2016. 

Eterna plc recently engaged Akintola Williams Deloitte (Deloitte) as its external auditors following the resignation of PricewaterhouseCoopers (PwC) in January 2016. PwC had been the Company’s external auditors since 2005 and the resignation is in compliance with the Code of Corporate Governance applicable to listed companies in Nigeria which requires that external audit firms should be retained for no longer than ten years continuously.   

In anticipation that Deloitte would need to undergo a learning curve in terms of understanding the Company’s processes and procedures in order to determine that the Company’s Financial Statements reflect a true and fair view of its books, the Company sought and obtained one month extension from the NSE to file its 2015 IFRS audited financial statements in February 2016.

“We sincerely apologise for any inconvenience that this extended filing date may have caused,” the company said in a statement at the NSE.

Eterna Plc, a quoted public limited integrated energy company engages in the manufacturing and sale of lubricating oils, importation and bulk/retail sale of petroleum products including Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Low Pour Fuel Oil (LPFO), base oils, bitumen and export of lubricants/fuels, bunkering, Gas distribution and marketing (LPG and NG), Offshore and Onshore oil services, Gas Processing, equipment supply services and other engineering and technical services for the energy industry.

 

Iheanyi Nwachukwu