Champions Breweries Plc announced the resignation of Didier Francis Martial Leleu as a Director of the Company effective 3 December 2015. The company consequently announced the appointments of Mr. Samson Aigbedo and Mrs. Helen A. Umanah as new Directors of the Company effective 3 December 2015.
Champion Breweries has seen its share price drop by as much as 47% this year as investors who likely purchased the shares earlier dumped it in droves as their bets became less likely to materialize positively.
Some investors had hoped that a possible merger between the company and Nigeria Breweries (its majority shareholder) could occur in the year potentially driving the share price higher. Champion Breweries has returned to profitability this year posting a N48.3 million profit after tax in 9 months ending September 30, 2015. It had posted a loss of N1.3 billion in the corresponding year.
Champion Breweries still has a negative retained earnings of N9.6 billion.
