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Investment: International Breweries announces closing date of Rights Issue for shareholders

*International Breweries Plc announces the company’s ongoing Rights Issues offer will close Monday, June 10, 2024, noting the current offering reaffirms commitment to shareholder value to participate in its growth journey and optimise their equity investment

Isola Moses | ConsumerConnect

As part of the measures for the company’s valued shareholders to participate in its growth journey and optimise their investment, the International Breweries Plc says its Rights Issues is ongoing, and will close Monday, June 10, 2024.

The leading brewer, in a statement Thursday, June 6 via its verified social media account noted that the Rights Issue “is presenting an exclusive opportunity for shareholders to consolidate their stake in our esteemed company.”

David Tomlinson, Finance Director at International Breweries Plc

The company stated the Rights Issue offer and Acceptance List Opening began May 21 while the Acceptance List Closing is slated for June 10.

At an offer price of ₦3.65 per share, and ratio of six new Ordinary Shares for every one held, International Breweries Plc stated the ongoing offering reaffirms its commitment to shareholder value and long-term growth.

The company also said the rights being offered are tradable on the floor of Nigerian Exchange (NGX) Plc through preferred stockbrokers, ensuring liquidity and accessibility throughout the duration of the Rights Issue.

David Tomlinson, Finance Director at International Breweries Plc, in his presentation on the “Facts Behind the Rights” session on the NGX, described the offering as “an opportunity for our valued shareholders to participate in our growth journey and optimise their investment.”

It’s been exciting to hear from shareholders who expressed confidence in our vision and potential at the Extra-Ordinary General Meeting in February and April, where approval for the Rights Issue was granted, the company stated.

International Breweries Plc further urged investors: “If you still haven’t participated, now is the time to do so.

“To participate, shareholders can access the form through official channels: www.registrars.apel.com.ng; https://lnkd.in/d3eTt8GW; www.chapelhilldenham.com.

“Seize the moment to enhance your stake, and be part of our dynamic growth story.”

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