NB Obtains SEC Approval to Extend N599.1bn Rights Issue

Kayode Tokede

Nigerian Breweries Plc has announced an extension for the acceptance period of its N599.1 billion rights issue to Friday, October 18, 2024.

The extension, it said in a statement, follows regulatory approval by the Securities and Exchange Commission (SEC) after the acceptance period for the right issue closed today, October 11, 2024.

In a notice of extension of the acceptance period conveyed by Nigerian Breweries and signed by its Legal Director/Company Secretary, Uaboi Agbebaku, the company stated that it is pleased to notify its esteemed shareholders and the Nigerian Exchange Limited (NGX) that the acceptance period for its rights issue which opened on September 2, 2024, and scheduled to close on October 11, 2024, has been extended to October 18, 2024, following the approval of the Securities and Exchange Commission (SEC).

Agbebaku noted that the acceptance period was extended to accommodate the normal working day activities disrupted by the public holidays observed during the initially scheduled acceptance period.

According to him, the extension was meant to provide shareholders with ample opportunity and time to subscribe to their rights.