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  • Nic's Public Notice - Profit Warning 2024

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    Edgar Okitoi
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    NIC Holdings Limited announced a profit warning, stating that based on preliminary results, the company's profit for the year ending December 31, 2023 will decline by more than 25% due to factors like the macroeconomic environment and IFRS 17 implementation impacting its subsidiaries' performance. The board advised shareholders and the public to exercise caution when dealing with the company's securities and to seek financial advice.

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    NIC Holdings Limited announced a profit warning, stating that based on preliminary results, the company's profit for the year ending December 31, 2023 will decline by more than 25% due to factors like the macroeconomic environment and IFRS 17 implementation impacting its subsidiaries' performance. The board advised shareholders and the public to exercise caution when dealing with the company's securities and to seek financial advice.

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    © All Rights Reserved
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    5 views1 page

    Nic's Public Notice - Profit Warning 2024

    Uploaded by

    Edgar Okitoi
    NIC Holdings Limited announced a profit warning, stating that based on preliminary results, the company's profit for the year ending December 31, 2023 will decline by more than 25% due to factors like the macroeconomic environment and IFRS 17 implementation impacting its subsidiaries' performance. The board advised shareholders and the public to exercise caution when dealing with the company's securities and to seek financial advice.

    Copyright:

    © All Rights Reserved
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    PUBLIC ANNOUNCEMENT

    PROFIT WARNING
    The Board of NIC Holdings Limited (NIC) wishes to inform esteemed
    shareholders of the Company and the general public that based on
    preliminary results from the operating subsidiaries whose financial
    statements are consolidated into the Company’s financial statements,
    the profit for the year ended 31st December, 2023 will decline by more
    than 25%. The subsidiaries’ performance in the past year had been
    affected by several factors including macroeconomic factors within the
    operating environment and the impact of IFRS 17 implementation
    amongst others.

    The Board therefore advises all shareholders and members of the public
    to exercise caution in dealing with the Company’s securities. Members
    of the public are advised to seek relevant financial advice.

    This announcement is made pursuant to Rule 38 (3) of the Uganda


    Securities Exchange Listing Rules, 2021.

    Dated this 30th January, 2024

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