In a regulatory notice to shareholders, seen By THE WHISTLER, the company said the NGX Regulation Company (NGX RegCo) had conditionally approved a moratorium lasting until January 14, 2028, within which Multi-Trex is expected to meet the minimum free float requirements for companies listed on the NGX Main Board. Under NGX rules, listed companies are required to maintain a minimum free float of 20 per cent of issued share capital or a market capitalisation of at least N20bn. Multi-Trex disclosed that its current free float stood at 7.23 per cent, valued at approximately N117.46m, based on its 2024 audited financial statements. While the recapitalisation stabilised the company’s operations and balance sheet, it brought Multi-Trex below the NGX’s free float threshold, prompting an application for regulatory forbearance. The NGX RegCo, in granting the extension, directed the company to formally notify shareholders of the regulatory implications of non-compliance.