Guinness Nigeria Plc (NGX: GUINNESS) has dispels rumours that its is relocating out of Nigeria. The “false publications” went on say that consequent upon the relocation plans, GUINNESS is planning to sell some of its assets in the country.
Guinness, the third largest brewing company in Nigeria in a corporate release on the Nigerian Exchange sighted by Investogist refuted these information.
The attention of the Management of Guinness Nigeria Plc has been drawn to some false, malicious, and misleading publication trending on some social media platforms falsely alleging that Guinness Nigeria is relocating out of Nigeria and consequently planning to sell some assets.
This falsehood is being irresponsibly circulated by faceless persons purporting to be property agents and unfortunately being amplified by some online news media without proper checks with the Management of the Company.
The company in the publication signed by Rotimi Odusola, Company Secretary/Corporate Relations Director, categorical stated that Guinness Nigeria Plc has no plans to exit Nigeria.
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The company reaffirmed its long-term strategic expansion plans in Nigeria with the acquisition of an additional 25-acre commercial property in the Ogba Industrial area of Lagos purchased recently in late 2021.
Stating more pointers to its long-term commitment, the company stated;
“We are renewed in our efforts to serve our revered consumers and creating more job opportunities for Nigerians as seen in the new $5 million additional production line recently commissioned at our Brewery in Ogba, Lagos in October 2021.
We are also pleased to state that we are on the verge of completing work on our new ultra-modern administrative head office block located in Ikeja where we will be moving in the next few weeks.
It therefore urged its shareholders, employees, stakeholders, and members of the public to ignore the false, malicious, and misleading publication in whatever form as it never emanated
from the Management of Guinness Nigeria Plc.
Guinness Nigeria expressed its confidence in the Nigerian economy and pledged to be as it has done for the past seventy-one years, a major player in the country by continually investing, developing capabilities, growing brands that most suit the consumers’ needs; and contributing positively to lives, communities and the environment.
A publication had appeared on NAIRALAND on February 25 2022, statin that Guinness Nigeria Plc was relocation to Ghana. The publication under the name of joeekwemuka went further to state that the brewer was selling its land and assets in Nigeria.
About the Company
Guinness Nigeria Plc is a public Company quoted on the Nigerian 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 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.
Guinness Nigeria Pc is part of the world’s largest premium drinks company, Diageo Plc., is home of the first Guinness brewery outside of the British Isles.
The issued and fully paid-up share capital of the Company is 2,190,382,819 ordinary shares of 50 kobo each (2020: 2,190,382,819 ordinary shares of 50 kobo each).
The Register of Members shows that the following Shareholders held more than 5% interest in the Company:
- Guinness Overseas Limited (a subsidiary of Diageo plc) with 1,099,230,804 ordinary shares (2020: 1,099,230,804 ordinary shares) constituting 50.18% shareholding (2020: 50.18% shareholding);
- Atalantaf Limited (a subsidiary of Diageo plc) with 171,712,564 ordinary shares (2020: 171,712,564 ordinary shares) constituting 7.84% shareholding (2020: 7.84% shareholding);
- Stanbic IBTC Nominees Limited with 119,250,813 ordinary shares (2020: 147,181,975 ordinary shares) constituting 5.44% shareholding (2020: 6.71% shareholding);
- Mutima Opportunity Fund with 112,502,111 ordinary shares (2020:- ordinary shares) constituting 5.14% shareholding (2020: -% shareholding).
The address of the Company’s registered office is at 24 Oba Akran Avenue, Ikeja, Lagos.
Share price movement
The share price of Guinness Nigeria Plc has improved tremendously since the beginning of the year.
The share price closed at N39.00 at the close of trading on 31st December 2022, and has increased by 66.7% YTD to close at N65,00 at the close of trading on 11th March, 2022.
Fig 1: Guinness Nigeria Plc price movement. Source: mytradebook
Below are the historic prices of GUINNESS Shares;
- YTD: +66.7%
- 1 Year: +176.60%
- 2 Years: +157.94%
- 3 Years: +1.56%
- 5 years: +2.88%
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
