International Breweries to change its financial Year-end to December

International Breweries Plc (“IBPlc”) announced on Wednesday that it would be changing its financial year-end from 31 March to 31 December of every year.

In a statement released to the Nigerian Stock Exchange, the firm said that the first application would be for a nine months period ending 31 December, 2017.

The Ilesha-based brewer announced in early June that it was exploring merging operations with its sister companies, Intafact Beverages Limited based in Onitsha and Pabod Breweries Limited based in Port Harcourt. All three companies are indirect subsidiaries of Anheuser-Busch InBev inherited from the merger with SABMiller.

On August 29, IBPlc announced that it had received all regulatory approvals from the Nigerian Securities and Exchange Commission (“SEC”) and the Nigerian Stock Exchange (“NSE”) to proceed with the merger.

It further said that the completion of the merger was subject to the approval of the respective shareholders of the merging entities and final regulatory approvals from the SEC, the NSE, and the Federal Inland Revenue Service, as well as the sanction by the Federal High Court (FHC).

International Breweries is best known for its popular Trophy Lager beer among other brands.

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