2.1bn Nigerian Breweries shares registered on SEC

Bisola David
Bisola David
2.1bn Nigerian Breweries shares registered on SEC

The Securities and Exchange Commission has registered the 2,055,226,476 bonus shares that Nigerian Breweries shareholders authorized at an extraordinary general meeting on December 8, 2022.

Nairametrics reported that this was made known in a corporate declaration that was issued to the Nigerian Exchange Limited.

According to the statement, which was signed by the company secretary, Uaboi Agbbaku, the beneficial shareholders who had Central Securities Clearing System accounts that were current and valid had since been credited with the number of shares that had been allotted to them based on the ratio of one new share for every four shares held as of December 6, 2022.

Additionally, it mentioned that the bonus shares are currently tradable on the floor of Nigerian Exchange Limited.

Progressive Shareholders Association National Coordinator. Boniface Okezie, responded to the offering by saying: “We are really pleased that NB Plc is demonstrating gratitude to shareholders even when we least expected it. We must praise the board for issuing bonus shares in the correct way, as well as the management for managing costs effectively.”

A different shareholder, Bamisile Abiola, expressed his admiration for the company’s achievements, particularly its efforts to combat climate change by making numerous investments in solar and alternative energy sources to lower its cost of electricity generation.

NB Plc’s management was commended by the president of the Noble Shareholders Solidarity Organization, Mathew Akinlade, for placing the interests of the shareholders first and reporting an exceptional profit inspite of a challenging business environment.

The issuing of 2.1 billion bonus shares, worth N84 billion, to eligible shareholders received unanimous approval from Nigerian Breweries Plc’s shareholders.

Following the end of its Extraordinary General Meeting held at the Oriental Hotel in Lagos, this approval was announced in a press release signed by Sade Morgan, Head of the Corporate Affairs Unit.

The qualified shareholders who were eligible to earn a bonus of one share for every four shares were those who were listed on the membership register as of the close of business on Tuesday, December 6, 2022, according to the corporation.
Dr. Kola Jamodu, the chairman of Nigerian Breweries Plc, indicated that the decision was made in reaction to the company’s strong share premium account and in response to the yearnings of shareholders over the years for bonus shares.

In accordance with the provisions of sections 124 and 868 of CAMA 2020, he said the firm has now bridged the gap between its issued and unissued shares as required by the Corporate Affairs Commission.

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