Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

SEC registers Nigerian Breweries’ 2.1 billion bonus shares

Chris UgwubyChris Ugwu
1 week ago
in Business News, Company News, Markets, Stock Market
SEC registers 2.1 billion bonus shares of Nigerian Breweries
Share on FacebookShare on TwitterShare on Linkedin

The Securities and Exchange Commission (SEC) has registered the 2,055,226,476 bonus shares approved by shareholders of Nigerian Breweries at an extraordinary general meeting on 8th December 2022.

This was contained in a corporate disclosure sent to the Nigerian Exchange Limited and seen by Nairametrics.

The statement, signed by Company Secretary Uaboi Agbbaku, noted that the beneficial shareholders with valid and updated Central Securities Clearing System (CSCS) accounts have subsequently been credited with the respective number of shares allotted to them based on one new share for every four shares held as at 6th December 2022.

It also noted that the bonus shares are now available for trading on the floor of the Nigerian Exchange Limited.

What the shareholders said: Reacting to the offering, the National Coordinator of Progressive Shareholders Association, Boniface Okezie, said:

  • “We are very delighted that NB Plc is showing appreciation to shareholders even when we least expected it. We must commend the management for managing cost effectively as well as the board for doing the right thing via the issuance of bonus shares.”

Another shareholder, Bamisile Abiola, said he was highly impressed by the company’s strides, especially in its contribution to climate change by making several investments in solar and alternative energies to reduce its power generation costs.

On his part, the President of Noble Shareholders Solidarity Association, Mathew Akinlade, praised the management of NB Plc for prioritizing the welfare of the shareholders and posting an impressive financial performance amidst a challenging business environment.

In case you missed it: Shareholders of Nigerian Breweries Plc had unanimously approved the issuance of 2.1 billion bonus shares valued at N84 billion, to qualifying shareholders.

This approval was made known in a press release signed by the Head of the Corporate Affairs Unit, Sade Morgan, following the conclusion of its Extraordinary General Meeting held at the Oriental Hotel, Lagos.

According to the company, the qualified shareholders entitled to receive a bonus of one share for every four shares were those who were on the register of members at the close of business on Tuesday, December 6, 2022.

The Chairman of Nigerian Breweries Plc, Dr. Kola Jamodu, explained that the decision was taken based on the company’s robust share premium account and in response to the yearnings of shareholders over the years for bonus shares.

He added that with the issuance of the 2.1 billion shares, the company has now closed the gap between its issued and unissued shares as required by the Corporate Affairs Commission pursuant to the provision of sections 124 and 868 of CAMA 2020.

Related

Tags: Nigerian Breweries (NB) PlcSecurities and Exchange Commission SEC

Leave a Reply Cancel reply

fidelity banner
Press one
Mega Millions
SME
hfm
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • 2023 election: US condemns violence, voter intimidation, to apply sanctions, visa ban on culprits
  • 2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now
  • WIA Young Leaders will select women for an exclusive business trip, mentorship   

Follow us on social media:

Recent News

2023 election: US condemns violence, voter intimidation, to apply sanctions, visa restrictions on culprits

2023 election: US condemns violence, voter intimidation, to apply sanctions, visa ban on culprits

March 21, 2023
2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now

2023 general election: Tinubu condemns isolated infractions, violence, says healing process must start now

March 21, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions
  • 2023 Elections

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!