The Board of Directors of Guinness Nigeria Plc (NGX: GUINNESS) will be holding an extra-ordinary meeting to consider some strategic business issues, amongst other matters.
In a notification filed on the Nigerian Exchange, the company stated that the meeting will hold on Monday, 27th November, 2023.
This is to notify The Nigerian Exchange (NGX) and the Market that an extraordinary meeting of the Board of Directors of Guinness Nigeria Plc will hold on Monday, 27th November, 2023 for the purpose of considering some strategic business issues, amongst other matters,” the notification read.
The resolutions as approved by the Board from the meeting will be uploaded to the Exchange portal not later than 28th Nov., according to the notification.
Guinness Nigeria had in October announced that, with effect from April 2024, it will no longer import or distribute certain Diageo international premium spirits products, including Johnnie Walker, Singleton, and Baileys and others imported under its 2016 Sale & Distribution Agreement with Diageo plc.
In the financial year ended 30 June 2023, the revenue related to Guinness Nigeria’s portfolio of imported Diageo international premium spirit products was NGN14billion, constituting approximately 6% of Guinness Nigeria’s total revenues.
However, the company will continue to manufacture and distribute its full portfolio of non-alcoholic drinks, beer, ready-to-drink (RTDs) and locally produced spirits, including inter-alia Orijin, Captain Morgan Gold, Gordon’s Moringa, and Smirnoff X1 Choco, fully utilising its asset base following the expansion of its production capacity in recent years as a foremost total beverage alcohol player.
About the company
Guinness Nigeria Plc, a public Company quoted on the Nigerian Stock Exchange, was incorporated in Nigeria on 29 April 1950, as a trading company importing Guinness Stout from Dublin.
The Company has since transformed itself into a manufacturing operation and its principal activities continue to be brewing, packaging, marketing and selling of of Guinness Foreign Extra Stout, Guinness Smooth, Malta Guinness, Guinness Gold, Harp Lager, Smirnoff Ice, Satzenbrau Lager, Dubic Malt, Snapp, Orijin Spirit Mixed Drink, Orijin Bitters, Smirnoff Ice Double Black with Guarana, Orijin Zero and Orijin Herbal Gin, Baileys Delight, Gordons Moringa among others.
The address of the Company’s registered office is at 24 Oba Akran Avenue, Ikeja, Lagos.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur