Lagos, 11 August 2023
PRESS RELEASE
The Board of Directors of CWG Plc ("the Company") hereby notifies all its esteemed shareholders that Nigeria Exchange Limited (NGX) has approved the Company's free float complianceextension request for three years (2023- 2026).
This is to enable the Company to comply with NGX's free float requirements of 20 per cent issued and fully paid share capital or N20,000 000,000.00 (Twenty Billion Naira) free-float market capitalization for companies listed on its Main Board and to ensure that the Company returns toits post-listingobligations.
This is in line with Rule 3.1.4 of The Exchange's Rules Governing Free Float Requirements, which states that "The Exchange may suspend trading in the company's securities if the company doesnot achieve the required free float within the stipulated timeframe".
The Company's Board and Management remain committed to good corporate governance practices, ensuring that the free float deficiency is cured within the stipulated timeline given by NGX Regulation Limited (NGX RegCo) failing which NGX RegCo may suspend trading in itssecurities.
For: CWG Plc.
DCSL Corporate Services Limited
Company Secretaries.