MORISON INDUSTRIES : DELAY IN FILING 2023 AUDITED FINANCIAL STATEMENT

MORISON INDUSTRIES PLC RC. 1274

HEAD OFFICE:	POSTAL ADDRESS
28/30, Morison Crescent,	P.O. Box 2084, Marina-Lagos.
Oregun Industrial Area, Ikeja, Lagos-Nigeria	P.M.B. 21290, Ikeja-Lagos.
Tel.: [phone]	Website: www.morisonplc.ng
email: [e-mail]
[e-mail]

Lagos, 19th March 2024

Morison Industries Plc. - Notice of Delay in filing of Audited Financial Statement for the year ended 31 December 2023

Morison Industries Plc. (the Company) wishes to notify Nigerian Exchange Limited (NGX), its shareholders and the investing public that the Company will not be able to release its Audited Financial Statements for the year ended 31 December 2023 (2023 AFS) within the regulatory due date of 31 March 2024.

This delay is due to the fact that the Company's external auditor, BDO Professional Services, will likely qualify its opinion as there is a Material Uncertainty Related to Going Concern paragraph which will be included in its audit opinion.

In compliance with Section 8 (1)(n) of the Financial Reporting Council Act No. 6, 2011, Rule 5 which states that the Financial Reporting Council of Nigeria (FRCN) shall receive copies of all qualified reports together with detailed explanations for such qualifications from the auditors of the financial statements, and that the financial statements shall not be released until all accounting issues have been resolved by the Financial Reporting Council of Nigeria (FRCN), the auditors are required to forward a copy of the financial statements as approved by the Board of the Company to the FRCN, for review and clearance before the results can be released to the investing public.

The 2023 AFS will be released as soon as the Financial Reporting Council of Nigeria (FRCN) clearance is obtained.

Bose Agbetu

Company Secretary

Directors: Richard O. Titiloye (Chairman), Engineer Charles A. Osezua (OON), Ayeni Philip, Afolake Lawal (Mrs.), John O. Adekoje, Adesoji Oladejo (Managing Director)