Capital Hotels explains delays of its 2016 result

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Capital Hotels Plc has released a press statement  to inform its Shareholders and other stakeholders that the Company was not able to file its Audited Financial Statements for the year ended 31 December 2016.

This was required within the timeframe required by The Nigerian Stock Exchange with respect to filing and publication of Audited Financial Statements.

In compliance with the requirement of the Financial Reporting Council of Nigeria (FRC) Capital Hotel Plc is in the process of obtaining FRC waiver from the FRC to enable the Chairman of its Audit Committee sign the Committee’s Report without the requisite qualification and FRC number.

Capital Hotel Plc said it is optimistic that the waiver will be obtained and the financial statement will be filed soonest.