Nigerian Breweries Plc (NGX: NB) has extended its rights issue acceptance period to 18th October, 2024.
The extension was contained in a regulatory filing on Thursday.
The acceptance period for the Rights Issue which opened on 2nd September, 2024, and was scheduled to close on 11th October, 2024.
Under the rights issue, Nigerian Breweries is offering 22,607,492,232 ordinary shares of 50kobo each at N26.5 per share on the basis of eleven (11) new ordinary shares for every five (5) existing shares held as at the close of business on Friday, 12th July, 2024.
NB noted that the extension of the Acceptance Period is to “accommodate the normal working days activities that were disrupted by the public holidays that were observed in the course of the initially scheduled Acceptance Period.”
“The extension aims to provide shareholders with ample opportunity and time to subscribe to their Rights,” the company added.
During the extended period, dealings by the Company’s insiders on the Company’s shares will
continue to be strictly limited to participation in the Rights Issue as earlier approved by the NGX in respect of the non-dealing period with regard to the Company’s Unaudited Financial Statements for the period ended September 30, 2024.
Shareholders are advised to contact their stockbrokers for more details about the Rights Issue.
On Thursday, NB closed at N28.85 pet share on the Nigerian Exchange.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
