Nigerian Breweries Plc has notified its esteemed shareholders and the Nigerian Exchange Limited (NGX) that the Company has received the clearance of the Securities and Exchange Commission (SEC) for the allotment of 20,706,894,542 ordinary shares of 50 Kobo each at N26.50 Kobo per share under its recently concluded Rights Issue. The company said its Rights Issue was 91.59 percent subscribed.

“The Registrars to the Company, First Registrars & Investor Services Limited will credit the CSCS account of successful allottees who have indicated their CSCS account details on their respective acceptance forms with the shares allotted to them not later than Wednesday December 18, 2024,” the brewer said in a recent notice at the NGX.

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“In addition, surplus subscription monies would be returned by First Registrars no later than Wednesday, December 18, 2024, being five (5) business days after clearance of the basis of allotment by the SEC.

Applicants without CSCS accounts will have their shares credited at the CSCS using a Registrar Identification Number (RIN), in line with the SEC Directive on Dematerialisation of Share Certificates not later than Wednesday December 18, 2024,” the company said.

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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