Nigerian Breweries Plc has extended the acceptance period for its N599.1 billion rights issue to October 18, 2024, following regulatory approval from the Securities and Exchange Commission. Shareholders now have additional time to subscribe to the offer, which provides 11 new shares for every 5 held.
Nigerian Breweries Plc (NB Plc) has announced an extension for the acceptance period of its N599.1 billion rights issue, granting shareholders until Friday, October 18, 2024, to participate. The extension follows regulatory approval from the Securities and Exchange Commission (SEC), accommodating disruptions caused by public holidays during the initial offering window.
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The rights issue, which initially opened on September 2 and was scheduled to close on October 11, allows shareholders to purchase 11 new shares for every 5 held at the close of business on July 12, 2024. A total of 22.61 billion ordinary shares are being offered at 50 kobo each, priced at N26.50 per share.
In a notice signed by the company’s Legal Director and Company Secretary, Uaboi Agbebaku, Nigerian Breweries expressed gratitude for the SEC’s approval and reassured shareholders of the opportunity to increase their stake in the company. The extension also ensures shareholders are not disadvantaged by the recent public holidays, providing more time for participation.
During this extended period, Nigerian Breweries will adhere to strict insider trading guidelines, limiting dealings on the company’s shares to participation in the rights issue as previously approved by the Nigerian Exchange Limited (NGX). Agbebaku encouraged shareholders to reach out to their stockbrokers for further details on the offer and how to exercise their rights.
The extension is seen as a positive step in ensuring that all eligible shareholders have adequate time to take part in this significant investment opportunity.
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