Nigerian Breweries: Shareholders Okay N2.1bn Bonus Shares Scheme

Shareholders of Nigerian Breweries Plc have unanimously authorized the issuing of 2.1 billion bonus shares to eligible shareholders following the completion of its Extraordinary General Meeting held in Lagos.

The 2.1 billion bonus shares were worth N84 billion as of the EGM date.

As a result of this change, qualifying shareholders—those who were listed on the Register of Members as of Tuesday, December 6, 2022, at the close of business—are now qualified to earn a bonus of one share for every four shares they held as of that date.

According to the chairman of Nigerian Breweries Plc, Dr. Kola Jamodu, the board decided to provide bonus shares to shareholders based on the company’s strong share premium account and in response to their long-standing requests for bonus shares.

He stated that, as required by the Corporate Affairs Commission in accordance with Sections 124 and 868 of CAMA 2020, the company has now bridged the gap between its issued and unissued shares with the issuing of the 2.1 billion shares.

Shareholders lauded the company for giving them what they described as an “early Christmas gift.”

 

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