Shareholders of Nigerian Breweries Plc have expressed delight with the Securities and Exchange Commission’s (SEC) recent registration of the investors’ 2.05 billion bonus shares approved at last year December.
The company in a notification sent to the investing public had noted that following the registration of the bonus shares, beneficial shareholders with valid and updated Central Securities Clearing System (CSCS) have been subsequently credited with the respective number of shares allotted to them based on one new share for every four shares held as at December 6, 2022.
The company also noted that the bonus shares are now available for trading on the floor of the Nigerian Exchange Limited (NGX).
Reacting to the development, the President, Noble Solidarity Association, Matthew Akinlade, commended the management of NB Plc for prioritising the welfare of shareholders and posting an impressive 2022 financial result amid a challenging business environment.
For his part, National Coordinator, Progressive Shareholders Association of Nigeria, Boniface Okezie, said, “We are obviously delighted that NB Plc is showing appreciation to shareholders who least expect it. The company has done well for managing cost effectively”.
It will be recalled that shareholders had unanimously the issuance of 2.1 billion bonus shares valued at N84 billion to qualifying shareholders. The Chairman Board of Directors, Dr Kola Jamodu, explained that the decision was taken based on the company’s robust share premium account in response to the yearnings of shareholders over the years for bonus shares.
He added that with the issuance of the 2.1 billion shares, the company has now closed the gap between its issued and unissued shares as required by the Corporate Affairs Commission (CAC) pursuant to the provision of sections 124 and 868 of CAMA 2020.