Posted on August 26, 2009 - by boris

Dar es Salaam Stock Exchange suspends Tanzania’s National Investment Company for one month…

The Dar es Salaam Stock Exchange (DSE) has suspended Tanzania’s National Investment Company NICOL.TZ (NICOL) from the bourse for failing to give notice that its drug subsidiary was in receivership.

Private equity firm NICOL listed all its 1.6 billion shares on the bourse just over a year ago and Interchem Pharmaceuticals & Beverages Ltd (IPBL), in which it has a 51 percent stake, was put into receivership late last year.

“Despite several reminders from the DSE, NICOL has failed to publish the required notice to date,” the exchange said in a statement on Tuesday, adding that it had suspended NICOL from the exchange for one month from Aug. 21.

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Source: http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSLP14982220090825