Nigerian Breweries Plc at its recent Extraordinary General Meeting has proposed an increase in the company’s share capital and bonus issue of N1.03 billion to shareholders.
In a statement available on the website of the Nigerian Exchange, the following resolutions were made by Nigerian Breweries:
INCREASE IN SHARE CAPITAL
“That the share capital of the company be increased from N5 billion to N5.138 billion by the creation of additional 276,132,378 ordinary shares of 50 kobo each, such new shares to rank in pari-passu in all respects with the existing ordinary shares in the shate capital of the company.”
BONUS ISSUE OF SHARES
“That the shareholders hereby approve that the sum of N1,027,613,238 be capitalised from share premium account, and accordingly that the said sum be set free from the share premium account for distribution amongst the members on the Register of members as at the close of business on Tuesday, December 6, 2022, on the condition that the same be not paid in cash but applied in paying up in full at par, 2,055 226,476 ordinary new shares of 50 kobo each, to and amongst such members in the proportion of 1(one) new shares for every 4 (four) shares held by them at that time.