Monday, 4 August 2008

Cadbury Nigeria - back from Suspension

The extraordinary saga of one of the worlds best brands being dragged through the mud in Nigeria looks like it is coming to an end. The Nigerian Stock Exchange has now lifted its two week long suspension on Cadbury Nigeria Plc.

The Investment and Securities Tribunal meanwhile upheld the indictment of the company by Administrative Proceeding Committee of Securities and Exchange Commission over financial misstatement amounting to about N5 billion in its 2006 accounts.

The company was given various fines. It was also fined for filing a Rights Circular for an irredeemable convertible loan stock which contained false/misleading statements.

On the positive side, the company has reported that trading in the first half of the year was looking good...

No comments: