Goldlink reassures shareholders on investment

The management of Goldlink Insurance Plc has reassured the shareholders of its commitment to secure their investments, informing that the Nigerian Stock Exchange (NSE) would no longer delist the company.

While the NSE had in September 2014 listed Goldlink as one of the companies to be delisted if it does not regularise its books within a given period of time, the company’s Managing Director, Mr. Gbolahan Olutayo, said they quickly responded and that the NSE has now given the organisation a clean bill of health.

He stated that the NSE has removed Goldlink from the list of companies to be delisted, stressing that the insurance outfit has since been cleared.

The NSE had stated that19 companies would have to urgently regularise their books with the Exchange to avoid being delisted.

According to NSE, other listed companies that failed to take appropriate steps to regularise their books have been delisted from the Exchange following the expiration of the deadline given them before taking the final decision.

The Goldlink boss, Olutayo said quantifiable measures are in place to ensure that all requirements of statutory compliance are adhered to going forward.

Olutayo further disclosed that all hands are on deck to ensure better returns on the investment of shareholders.

He added that the National Insurance Commission (NAICOM) has addressed all challenges confronted by Goldlink in the past.

Olutayo reassured the shareholders that plans are in place to acquaint them with progressive reports of efforts made so far to reposition the company for effective service and better returns on their investments.

On October 31, 2012, NAICOM took over the management of Goldlink and also constituted a seven-man interim board of directors to oversee the affairs of the company for six months after the commission observed irregularities in the company’s 2011 financial account.

The interim board has Mr. James Olatunde Ayo, former Managing Director of Royal Exchange Assurance Plc as Chairman and Mr. Gbolahan Olutayo as the Managing Director.

The interim board was charged with the responsibility of carrying out full investigation of the financial reports and corporate governance failures observed in the course of reviewing the company’s financial statement for the year ending December 31, 2011.

The interim board is still in charge of the insurance outfit.

Source : Independent

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