Champion Breweries Plans to Raise Additional Capital

Champion Breweries Plans to Raise Additional Capital

Champion Breweries Plc has announced a plan to hold an extraordinary general meeting of shareholders on December 4 at Oriental Hotels. The board of directors would be seeking shareholder approval to raise additional capital of up to N15 billion at the emergency meeting.

In a regulatory filing submitted on the Nigerian Exchange, the beer-producing company said it will be seeking shareholders’ approval to undertake a capital raising exercise. The board seeks shareholders’ approval to issue up to 1,579,058,099 ordinary shares in the Nigerian and/or international capital markets.

According to the company, the capital raising exercise can be either as a standalone issue(s) or by the establishment of a capital raising program(s).

This could be by way of public offerings, private placements, rights issues, and/or other transaction modes, at price(s) determined through book building.

The company plan to use any other acceptable valuation method or combination of methods at such dates and on such terms and conditions as may be determined by the Board of Directors, subject to obtaining the requisite regulatory approvals.

The statement reads that the Extra-ordinary General Meeting of Champion Breweries Plc. which was scheduled to hold on Wednesday December 4th 2024 at Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos at 12.00 noon will now hold at Lagoon Restaurants, 1C Ozumba Mbadiwe Street, Victoria Island, Lagos on the same date and time Naira Depreciates Ahead of 2-Week Automated FX Trading Trial