International Breweries Plc, the Nigerian subsidiary of global brewing company AB InBev announced on Tuesday the reasons for the delay in release of its 2018 full year results, before the regulatory due date of 31 March 2019.

In a statement released to the Nigerian Stock Exchange (NSE), the brewer said that the late filing is occasioned by the follow-up activities to the merger with its sister companies which was concluded in December 2017, adding that integration processes are still ongoing. Also, the appointment of a new External Auditor in compliance with the Securities and Exchange Commission’s Code of Corporate Governance for Public Companies, 2011 (SEC Code) regarding the 10-year tenure for External Auditors added to the delay.

The Company assures its shareholders of filing the accounts within the extended period granted by The Exchange, and that the Board and Management are committed to ensuring the highest level of corporate governance and sustenance of stakeholder value. The statement did not state the extension date granted by The Exchange.