Tag Archives: Guinness Nigeria Plc

Guinness Nigeria gets approval for new share sale

Guinness Nigeria Plc, announced on Tuesday it had received clearance from the Nigerian Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) to issue new shares.

The funds raised from the share sale, the company said will go to implementing its strategy in the context of ongoing external economic challenges.

Guinness Nigeria appoints Viola Graham-Douglas as new Corporate Relations Director

Guinness Nigeria Plc announced on Thursday the appointment of Viola Graham-Douglas as its new Corporate Relations Director. She takes over from Sesan Sobowale who left the company in March/April. Her appointment became effective on 1st June 2017.

According to information provided by the company, Mrs. Graham-Douglas began her career in the banking industry in Nigeria and worked in varied roles with reputable banks. She later joined Lafarge Africa Plc, formerly WAPCO Cement, as Treasury Manager, and subsequently became the company’s Secretary/Head of Corporate Services before moving to Lafarge Group Headquarters in Paris. She also served as Managing Director, Atlas Cement, a subsidiary of Lafarge, as well as Country Communications Director before accepting her new role as Guinness Nigeria’s Corporate Relations Director.

Diageo’s – Capital Markets Day 2017 Wrap-up

Diageo held its Capital Markets Day (CMD) on 9th May 2017. The company’s Africa President, John O’Keeffe spoke with analysts on various issues covering the group’s business operations in Africa and Nigeria.

Beverage Industry News (NG) recaps some of the highlights of the day and the spirit firm’s strategy for Africa in 2017 and beyond.

Guinness Nigeria stung by currency woes as firm declares fourth consecutive loss

Guinness Nigeria Plc on Wednesday reported a strong revenue growth of 29% to ₦90bn in the 9-months to 31 March 2017, up from ₦70bn in the previous year.

However, the company was stung by an inflationary environment and continuing currency devaluation which drove up the cost of goods sold by 47% to ₦60bn. A higher net finance cost that rose 177% to ₦6.7bn due to unrealized foreign exchange loss added to the brewer’s woes

Sesan Sobowale, long-serving Director at Guinness Nigeria resigns post

Sesan Sobowale, long-serving director at Guinness Nigeria Plc and its Corporate Relations Director is said to have left the company.

The former face of Guinness Nigeria, who left the company two weeks ago, is said to have mutually agreed to part ways with the brewing company. There has been no word from the beverage giant on his replacement.

Sobowale spent 12 years at Guinness Nigeria, having joined the company in April 2005 as its Corporate Secretary.

Pharma-Deko seeks committal proceedings against Guinness Nigeria

Pharma-Deko Plc, a pharmaceutical company locked in a legal dispute with Guinness Nigeria Plc, over an alleged ₦176m debt claim, on Tuesday sought to commence a committal proceedings against the brewer at a Federal High Court in Lagos.

The application is seeking to get two of Guinness Nigeria’s management staff convicted and imprisoned for what the plaintiff says is a violation of the law, as stated under the Company and Allied Matters Act (CAMA).

Guinness Nigeria commissions seven new boreholes in Cross River State to commemorate World Water Day

In furtherance of its continued commitment to interventions that transform lives and improve the health and well-being of communities in Nigeria, Guinness Nigeria Plc has constructed seven hand pump water boreholes in Bebi Community, Obanliku Local Government Area (LGA) of Cross River State.

Guinness Nigeria seeks NSE approval for share sale

Guinness Nigeria Plc, said on Wednesday it had sought approval from the Nigerian Stock Exchange (NSE) for a new share sale which it hopes would raise N39.77bn ($130m).

The company which has posted back-to-back losses in the last three quarters said it would issue the shares to existing shareholders at N58 per share, which represents a 17% discount on Wednesday’s closing of N70 per share. Existing shareholders would be offered five new shares for every 11 held as of Wednesday closing.

Guinness Nigeria donates Optical Equipment to Lagos Eye Hospital

Guinness Nigeria Plc, has donated a pair of slit lamps to the management of the Lagos University Teaching Hospital (LUTH), as part of its effort to boost healthcare in the country.

Slit lamps are the most frequently used and most universally applicable examination instrument in ophthalmology. Its field of application include the examination of the anterior segment of the eye including the crystalline lens and the anterior vitreous body, observation of the posterior segments and the iridocorneal angle that are not visible in the direct optical path, as well as measuring intraocular pressure.

Pharma Deko seeks liquidation of Guinness Nigeria over debt claims

Pharma Deko Plc, a pharmaceutical company has filed a petition at the Federal High Court in Lagos seeking liquidation of Guinness Nigeria Plc as an ongoing business concern over alleged ₦176m debt claim.

The petition, which is before Justice Hadizat Rabiu-Shagari would be heard on 28 March, 2017.