Nigerian Breweries will issue shareholders one new share for every four held
Nigerian Breweries Plc, backed by Heineken, will issue one additional new share to its shareholders for every four they hold, according to a regulatory filing seen by PREMIUM TIMES, its first bonus issue in over 18 years.
The resolution follows a November 15 board meeting and was informed by a directive from the Corporate Affairs Commission asking companies to erase unissued shares from their books. when it issued an additional share for each share held by shareholders, which doubled their stake. The new proposal will increase shareholder participation by 25%.
"The bonus shares worth N1.03 billion will be issued from the company's share premium account, which based on audited 2021 accounts had a balance of 77, 5 billion naira and 84 billion naira as of October 31, 2022,” Nigerian Breweries said.
It will take full effect if the motion receives the assets of shareholders at an extraordinary general meeting of the company to be held on December 8.
Those who hold shares in the company and whose names appear on the register of members will be eligible for free shares.
ALSO READ: NB Plc partners with Konexa to supply 100% renewable energy to its Kaduna breweriesCurrently at 8.2 billion units, the outstanding shares of Nigerian Breweries will increase to 10.3 billion units when the bonus issue is completed.
Heineken Brouwerijen B.V, the brewer's largest shareholder, holds a 38.1% stake in the company according to its report on audited results for 2021.
Nigerian Breweries reported an after-tax profit of N15.3 billion for the year to September 2022, higher than its profits for the full year of 2021 and 2019.
It announced a dividend of N0.40 per share totaling N3.3 billion as an interim dividend for the period ending September 2022.
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Nigerian Breweries Plc, backed by Heineken, will issue one additional new share to its shareholders for every four they hold, according to a regulatory filing seen by PREMIUM TIMES, its first bonus issue in over 18 years.
The resolution follows a November 15 board meeting and was informed by a directive from the Corporate Affairs Commission asking companies to erase unissued shares from their books. when it issued an additional share for each share held by shareholders, which doubled their stake. The new proposal will increase shareholder participation by 25%.
"The bonus shares worth N1.03 billion will be issued from the company's share premium account, which based on audited 2021 accounts had a balance of 77, 5 billion naira and 84 billion naira as of October 31, 2022,” Nigerian Breweries said.
It will take full effect if the motion receives the assets of shareholders at an extraordinary general meeting of the company to be held on December 8.
Those who hold shares in the company and whose names appear on the register of members will be eligible for free shares.
ALSO READ: NB Plc partners with Konexa to supply 100% renewable energy to its Kaduna breweriesCurrently at 8.2 billion units, the outstanding shares of Nigerian Breweries will increase to 10.3 billion units when the bonus issue is completed.
Heineken Brouwerijen B.V, the brewer's largest shareholder, holds a 38.1% stake in the company according to its report on audited results for 2021.
Nigerian Breweries reported an after-tax profit of N15.3 billion for the year to September 2022, higher than its profits for the full year of 2021 and 2019.
It announced a dividend of N0.40 per share totaling N3.3 billion as an interim dividend for the period ending September 2022.
Support the integrity and credibility journalism of PREMIUM TIMES
Good journalism costs a lot of money. Yet only good journalism can guarantee the possibility of a good society, an accountable democracy and a transparent government.
For free and continued access to the best investigative journalism in the country, we ask that you consider providing modest support to this noble endeavour.
By contributing to PREMIUM TIMES, you help sustain relevant journalism and keep it free and accessible to everyone.
Donate
[embedded content]TEXT ANNOUNCEMENT: Call Willie - +2348098788999
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