Aradel Holdings Plc has extended the filing of its 2025 audited financial statements and first-quarter 2026 unaudited financial statements after failing to meet its previously announced May 29, 2026, target.
The company disclosed in a notice to the Nigerian Exchange (NGX) Limited, shareholders and the investing public that both reports will now be released on or before June 19, 2026, citing challenges arising from the consolidation of its recently acquired additional 40 per cent equity interest in ND Western Limited.
Aradel had earlier informed the market on March 2, 2026, that the delay in filing its financial results was linked to the acquisition and subsequently indicated that the reports would be released on or before May 29, 2026.
The organisation said unforeseen complexities emerged during the consolidation process following the integration of the newly acquired stake into the group’s reporting framework.
According to the notice, “The delay is due to unforeseen complexities encountered in the consolidation process arising from the integration of the newly acquired interest in ND Western Limited into the Group’s reporting framework. Additional time is required to ensure that the consolidated results fairly present the financial position of the enlarged Group in line with applicable accounting standards and regulatory requirements.”
“The company is working closely with its external auditors to complete the process without compromising the quality, accuracy or integrity of the financial statements. Both the FY 2025 Audited Financial Statements and the Q1 2026 Unaudited Interim Financial Statements will now be released on or before 19 June 2026,” Aradel said.
The extension means the company’s closed period, which commenced on January 1, 2026, will remain in effect until 24 hours after the financial statements are released to the market. During the closed period, insiders and other restricted persons are prohibited from trading in the company’s shares.
The energy firm noted that trading in its securities by affected persons would resume after the expiration of the extended closed period. The oil producer further reiterated its commitment to regulatory compliance and transparency in its financial reporting.
