Guinness Nigeria Plc has confirmed its continued status as a publicly listed entity on the Nigerian Exchange following the launch of a Mandatory Takeover Offer (MTO) by N Seven Nigeria Limited (a member of the Tolaram Group).
The Offer, which involves up to 481,362,887 ordinary shares at ₦81.60 per share, is a standard regulatory process in line with the Investment and Securities Act and Securities and Exchange Commission (SEC) regulations governing mergers, acquisitions, and takeovers.
As part of the regulatory process, the acceptance period for the MTO will open on March 14, 2025, and close on April 4, 2025, giving qualifying shareholders the opportunity to consider and respond. Shareholders who have not received the Offer Document by March 7, 2025, can obtain a copy from Veritas Registrars Limited or access it via the Guinness Nigeria website.
Despite this regulatory development, Guinness Nigeria maintains its strong market position, operational stability, and long-term growth strategy. The company has reaffirmed that the MTO will not result in a delisting from the Nigerian Exchange, as Guinness Nigeria is expected to continue meeting the free float requirements post-offer, allowing shareholders to freely trade their shares on the open market.
Commenting on the development, Girish Sharma, Managing Director of Guinness Nigeria, reaffirmed the company’s commitment to stability and transparency. He noted that Guinness Nigeria’s legacy of excellence and innovation remains at the heart of its operations.
“Guinness Nigeria has built a legacy of excellence spanning 75 years, and we remain focused on our commitment to delivering quality, innovation, and value to all our stakeholders. The launch of the MTO is in line with regulatory provisions and does not affect our ability to continue operating as a market leader. We remain a publicly listed entity on the Nigerian Exchange and will continue to uphold the highest standards of corporate governance, transparency, and value creation,” he said.
Beyond shareholder concerns, the company has also addressed concerns around corporate governance, board composition, and management structure, confirming that there will be no immediate changes beyond those that arise through the normal course of governance.
Guinness Nigeria has assured its employees that the MTO does not impact their roles, job security, or the company’s operational framework. The company remains focused on business expansion, talent development, and driving value for its teams.
To ensure clarity and accessibility, Guinness Nigeria has published a comprehensive FAQ section on its website, providing guidance on the MTO process, shareholder entitlements, and the company’s ongoing status as a listed entity. Shareholders seeking additional details or wishing to participate in the MTO are encouraged to contact Veritas Registrars Limited.
With a history of resilience, innovation, and market leadership, Guinness Nigeria remains strongly positioned for the future, committed to delivering value for stakeholders, maintaining its heritage, and driving growth in the Nigerian market.
