CIRCULAR

TIMELY NOTIFICATION AND PRIOR APPROVAL OF CORPORATE CHANGES


15 October 2025				                                          NGXREG/MRD/CIR04/25/10/15


NGX Regulation Limited (?NGX RegCo?) has observed repeated cases of non-compliance by Trading License Holders with the provisions of the Rulebook of The Exchange, 2015 (Dealing Members? Rules), as amended, relating to changes in their corporate structure and Approved Persons, particularly with regard to:

?	Appointment or exit of Directors such as Managing Director/Chief Executive Officer, Non-Executive Director, Executive Director and Independent Director, and other Approved Persons such as the Authorized Dealing Clerk (ADC), Chief Financial Officer (CFO), Chief Compliance Officer (CCO), and Chief Risk Officer (CRO);

?	Changes in shareholding or control; and

?	Change of company name;

?	Establishment of branch office or notification of business addresses and closure.

This circular serves as a reminder that prior notification to and written approval from NGX RegCo is mandatory before effecting any such changes. 

Trading License Holders are hereby directed to ensure strict compliance with the following Rules of The Rulebook of The Exchange:

?	Rule 6.7: Mode of Changing of Directors and Shareholders
?	Rule 6.10: Approval of The Exchange about Material Changes
?	Rule 6.13: Specific Actions Requiring Prior Consent of The Exchange
?	Rule 6.15: Notification of Change of Approved Persons     
?	Rule 6.16: Notification of Business Address and Closure of Office
?	Rule 8.9: Change of Employment of Authorized Clerks
?	Rule 10.4: Identification of Compliance Officers to The Exchange

In line with NGX Regulation Limited?s commitment to upholding market integrity and ensuring effective corporate governance within the capital market, it is imperative that all Trading License Holders strictly adhere to the Rules of The Exchange regarding corporate changes. Timely notification and prior a