Nigerian Breweries says rights issue subscribed by 91.59%

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.

“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.