Champion Breweries has filed a notice of take-over offer by Raysun Nigeria Limited for over 1 billion units of the brewer’s shares.
The Offer is in accordance with the directives of the regulator subject to the provisions of Section 131, Part XII of the Investment and Securities Act, No. 29, 2007 (as amended) and Rule 445 of the Securities and Exchange Commission (SEC) Rules and Regulations, 2013 (as amended).
The disclosure states that 1,196,799,164 Ordinary shares, representing 15% of the total shares outstanding, in Champion Breweries Plc will be acquired for N2.60 per share. It further states that the take-over document containing an acceptance form has been forwarded to qualifying shareholders. However, qualifying shareholders who are yet to receive the document and are interested in the offer should proceed to the Registrar’s Office, Africa Prudential plc.
According to the notice, the acceptance offer opened on the 10th of January, 2022 and is due to close on the 31st of January 2022.
Recall that in October 2021, in a notice to the Nigerian Exchange Limited (NGX), Champion Breweries Plc had informed the investing public of the proposed mandatory take-over by The Raysun Nigeria Limited (Raysun) to acquire up to 1,196,799,164 ordinary shares (the Offer Shares) from the other shareholders of Champion Breweries Plc.
In May 2021, the Board of Raysun granted approval for a take-over offer to be made to all the other shareholders of the Company other than Raysun, for the acquisition of the Offer Shares representing 15.3percent of the total issued and fully paid-up share capital of the Company.
Champion Breweries shares currently trades at N2.36 per share.
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