Tanzania bourse suspends NICOL for nondisclosure

* Month suspension for not saying drug unit in recievership

* Bourse also says failed to advise on TFDC unit performance

* Faces delisting if does not give information by month-end

DAR ES SALAAM, Aug 25 (Reuters) - The Dar es Salaam Stock Exchange (DSE) has suspended Tanzania's National Investment Company NICOL.TZ (NICOL) from the bourse for failing to give notice that its drug subsidiary was in receivership.

Private equity firm NICOL listed all its 1.6 billion shares on the bourse just over a year ago and Interchem Pharmaceuticals & Beverages Ltd (IPBL), in which it has a 51 percent stake, was put into receivership late last year.

"Despite several reminders from the DSE, NICOL has failed to publish the required notice to date," the exchange said in a statement on Tuesday, adding that it had suspended NICOL from the exchange for one month from Aug. 21.

DSE, which has 15 companies listed, also said that NICOL had failed to update the public on the performance of its fish processing unit Tanzania Fisheries Development Company Limited TFDC.

NICOL officials were not immediately available to comment.

NICOL also holds 6.6 percent of National Microfinance Bank NMB.TZ and a stake in a local microfinance institution.

By the end of the month suspension, NICOL must publish all of the requested information, resubmit its financial statements, audited in line with International Financial Reporting Standards and show proof that any directors aged 70 or more had retired.

"NICOL's failure to comply with the ... directives will lead the DSE Governing Council to delist it," the statement said.

NICOL's shares closed trade on Aug. 20 at 270 Tanzania shillings ($0.205), compared with a high of 285 shillings on Feb. 19. Its shares debuted at 300 shillings and closed at 400 shillings on its first trading day.

Its total assets stood at 45.2 billion shillings at the end of last year, compared with 13.4 billion the year before. It made a pretax profit of 561.1 million shillings in 2008, up from a loss if 72.5 million shillings the previous year. (Reporting by George Obulutsa; editing by Daniel Wallis and Karen Foster) ($1=1315.0 Tanzanian Shilling)