International Breweries Plc has notified the Nigerian Exchange and investing public that the shareholders of the Company at the recent Extraordinary General Meeting proposed and duly passed the following resolutions:
- That the convertible loan of US$379.9million from AB InBEV Nigeria Holdings BV (‘Shareholder Loan”) in respect of the repayment of the loan obtained by the Company from Citibank Abu Dhabi is hereby accepted and approved in accordance with the terms and conditions presented by the Management of the Company.
- That subject to complying with applicable regulatory requirements, the Directors are authorized to apply all sums due from the Company to AB InBEV Nigeria Holdings BV under the Shareholders Loan, towards payment for any shares subscribed for by AB InBev Nigeria Holdings BV in the company’s Right Issue that has been approved by the Shareholders of the Company.