Nestlé S.A has purchased a total of 666,596 additional shares of its Nigerian subsidiary, Nestlé Nigeria Plc, in a deal worth N933.95 million.
According to the four different notifications issued between 11th to 27th of November by the Company’s Secretary, Mr. Bode Ayeku, and seen by Nairametrics, Nestlé S.A purchased the ordinary shares of Nestlé Nigeria Plc in this order:
- On 10th November, 214,924 additional shares worth N300.89 million, at a price of N1,400.00 per share.
- On the 17th and 18th November, 331,045 additional shares worth N463.46 million, at a price of N1,400.00 per share.
- On 20th November, 102,690 additional shares worth N143.77 million, at a price of N1,400.00 per share.
- On 25th and 27th November, 17,937 additional shares worth N24.82 million, at a price of N1,384.00 per share.
This brings the total shares of Nestlé Nigeria Plc purchased by Nestlé S.A to 666,596, and the total consideration for these shares is put at N932.95 million.
What this means
The purchase of the shares of Nestlé Nigeria further cements the position of Nestlé S.A’s as the majority shareholder of the company.
In line with the information contained in the financial statements of the company as of 30th September 2020, the company had exactly 792,656,252 shares outstanding, with Nestlé S.A being the majority shareholder (525,537,201 units) – 66.30% of the total shares of the company outstanding.
Hence, with the 666,596 additional units purchased, Nestlé S.A’s ownership percentage of Nestlé Nigeria is now put at 66.38%.
