The Securities and Exchange Commission (SEC) Nigeria has registered the 2,055,226,476 bonus shares of Nigerian Breweries Plc approved by the shareholders at an Extraordinary General Meeting (EoGM) held on December 8, 2022 in Lagos.
The Company Secretary, Barr. Uaboi Agbaku, in a corporate disclosure sent to the Nigerian Exchange Limited (NGX), stated that the befitting shareholders with valid and updated Central Securities Clearing System (CSCS) accounts had been credited based on the number of shares allotted them based on one new share to four shares held as of December 6, 2022.
According to him, with the allotment of the approved shares, the beneficiaries can now use the shares for trading on the Nigerian Exchange.
Commenting on the approval and registration of the bonus shares by the SEC, the National Coordinator of Progressive Shareholders Association, Boniface Okezie, expressed the appreciation of the association’s members to the board and management of the company for the investment return initiative.
He said: “We are very delighted that NB Plc is showing appreciation to the shareholders even we least expected it. We must commend the management for managing cost effectively as well as the board for doing the right thing via the issuance of the bonus shares.”
Also, the President of Noble Shareholders Solidarity Association, Matthew Akinlade, described the initiative as desirable in view of the benefits to shareholders and commended the company’s board and management for prioritizing the shareholders’ welfare and improving the listed company’s financial results despite the increasingly challenging business environment.
It would be recalled that the shareholders had unanimously approved the 2,055,226,476 bonus shares valued at N84 billion for qualified shareholders whose names were on the register of members at the close of business on Tuesday, December 6, 2022 during the EoGM held on December 8, 2022 at the Oriental Hotel, Lagos.
