Tag Archives: Rights Issue

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 shareholders approve proposed N40bn Rights Issue

Guinness Nigeria Plc, on Tuesday received approval from its shareholders for a proposed N40bn ($127m) rights issue.

At an Extra-Ordinary General Meeting (EGM) held in Lagos on Tuesday, Guinness Nigeria’s shareholders approved the request.

Guinness Nigeria board chairman, Mr. Babatunde Savage, said the shareholders’ approval would enable the company raise up to N40bn as fresh cash injection into the business operations.

Guinness Nigeria seeks N40bn rights issue to pay down debts

Guinness Nigeria Plc said it plans to hold an Extraordinary General Meeting (EGM) of its shareholders in Lagos on January 24th 2017 to approve resolutions for a N40bn rights issue.

According to a statement released by the company, it believes the rights issue will allow it optimize its balance sheet, while improving its financial and operational flexibility.