Nigerian Breweries Plc, a leading brewing company in Nigeria, has announced an extension for its N599.1 billion rights issue acceptance period. The new deadline is set for Friday, October 18, 2024. This change comes after receiving regulatory approval from the Securities and Exchange Commission (SEC). Initially, the acceptance period was scheduled to close on October 11, 2024.
In a notice signed by Legal Director/Company Secretary Uaboi Agbebaku, Nigerian Breweries Plc informed shareholders and the Nigerian Exchange Limited (NGX) about this extension. The rights issue began on September 2, 2024. Shareholders can now subscribe until October 18, allowing them to acquire additional shares in the company.
NB Plc offers its shareholders 22.61 billion ordinary shares at N26.50 per share. This opportunity allows existing shareholders to increase their holdings by purchasing 11 new shares for every five they held as of July 12, 2024.
Agbebaku explained that the extension aims to accommodate disruptions caused by public holidays during the original acceptance period. He stated that this additional time would provide shareholders with more opportunities to participate in the rights issue.
During this extended period, insiders' dealings will be limited strictly to participation in the rights issue. This restriction aligns with NGX's earlier approval concerning non-dealing periods related to NB Plc’s unaudited financial statements ending September 30, 2024.
Shareholders are encouraged to contact their stockbrokers for further information regarding the rights issue during this extended timeframe.
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