Champion Breweries Plc has announced an Extra-ordinary General Meeting which will hold on Wednesday December 4th 2024 at Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos.
The purpose of the meeting is to consider the following special resolutions.
- That the Company undertakes a capital raising exercise through the issuance of up to 1,579,058,099 ordinary shares, in the Nigerian and/or international capital markets, either as a standalone issue(s) or by the establishment of a capital raising programme(s), whether by way of Public Offerings, Private Placements, Rights Issues and/or other transaction modes, at price(s) determined through book building or any other acceptable valuation method or combination of methods at such dates, and on such terms and conditions as may be determined by the Board of Directors of the Company (the “Board”) subject to obtaining the requisite regulatory approvals;
- The Company’s Share Capital be increased by the exact number of shares which will be offered under the capital raise upon the determination of the terms of the capital raise by the Board further to the above resolution;
- Further to the above approvals, the Board be, and is hereby, authorized to: (a) pass the relevant resolutions increasing the Company’s Share Capital by the specific number of new ordinary shares required for the capital raise; and (b) allot such said number of new ordinary shares upon completion of the capital raising exercise;
- That after the increase of the Company’s Share Capital and allotment of the new ordinary shares in accordance with resolutions above, the Memorandum and Articles of Association of the Company be amended as necessary to reflect the Company’s new Issued Share Capital;
- That the Company be and is hereby authorized to raise additional capital of up to N15,000,000,000 (Fifteen Billion Naira) directly and/or indirectly by such means as the Board may deem appropriate including via a special purpose vehicle, through the issuance of securities comprising convertible and/or non-convertible notes, green bonds, hybrid securities, or a combination of these or any other instruments, in the Nigerian and/or international capital markets, either as a standalone issue(s) or by the establishment of capital raising programme(s), whether by way of public offerings, private placements, rights issues and/or other transaction modes, at price(s), coupon or interest rates determined through book building or any other acceptable valuation method or combination of methods, in such tranches, series or proportions, within such maturity periods and at such dates and upon such terms and conditions as may be determined by the Board, subject to obtaining the relevant regulatory approvals.