Close Period

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Close Period

The time between the preparation of a company's balance sheet and its announcement to the public. The close period usually lasts about two months. During this time SEC rules prohibit insiders from buying or selling the company's shares in any way.
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Consequently, in compliance with the Nigerian Stock Exchange (NSE) Rule Book and the Amendments to the Listing Rules, Oando also announced the continuation of its closed period for trading in its securities.
Another motion calls for "a mandatory closed period for games and collective training of all county panels for four consecutive weekends during the period April 1 to May 20".
Further, the Company has declared closed period from October 22, 2015 to October 29, 2015.
As for the two-week shutdown in March 2013 -- imposed to curtail a run on the banks -- a CBC rep said that spot checks concerning the closed period did not yield 'significant breaches' by commercial banks.
It has been asked to provide determine closed period date.
Energy company Royal Dutch Shell plc (NYSE:RDS-A)(NYSE:RDS-B) announced on Wednesday the execution of an irrevocable, non-discretionary arrangement with an independent third party to enable the purchase of 'B' ordinary shares, for cancellation, during its 2012 fourth quarter results closed period.
The consultation therefore has three options: no change, to extend the closed period by two weeks or to extend it by one month.
The move means Ireland's top lender will no longer have the two-month closed period in April to May prior to the release of its financial results, during which its managers and other insiders are banned from trading in the company's shares.
Willie McAteer, the bank's director of group finance, reportedly told Reuters that the bank was unable to comment as it was in its closed period ahead of the results.
But before entering its closed period, the company - which employs more than 450 people on Teesside - today said trading in the first half of the financial year was "in line with expectations".
Small vessels (between eight and 12 metres) may transfer for use during this closed period up to five days at sea of their authorised total per month of closure, ie five days for the west zone (one month closed period) and ten days for the east zone (two-month closed period).
Customers will be able to take extra books out on May 19 to cover the Bank Holiday and closed period.