Revealed! Guinness Nigeria speaks on next step after company’s takeover

• Guinness Nigeria Plc has reaffirmed that it intends to enactment listed connected the Nigerian Exchange arsenic a publically traded corporation.
• This is successful spite of N Seven Nigeria Limited, a subsidiary of the Tolaram Group, making a continuing mandatory takeover offer
• Guinness Nigeria added that pursuing the MTO, its shareholding operation would inactive conscionable the Exchange's escaped interval requirements

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Despite the ongoing Mandatory Takeover Offer by N Seven Nigeria Limited, a Tolaram Group subsidiary, Guinness Nigeria Plc has reiterated its volition to proceed being a publically traded institution connected the Nigerian Exchange.

Guinness Nigeria further stated that its shareholding operation would proceed to fulfill the Exchange's escaped interval standards aft the MTO. Photo Credit: Guinness Nigeria
Source: UGC

The MTO, which involves up to 481.36 cardinal communal shares astatine a terms of N81.60 per share, complies with the Securities and Exchange Commission's merger and acquisition regulations arsenic good arsenic the Investment and Securities Act, according to a connection provided.

Girish Sharma, the Managing Director of Guinness Nigeria, spoke connected the contented and reassured stakeholders that the buyout bid would not interaction the company's operational absorption oregon listing status.

“Guinness Nigeria has built a bequest of excellence spanning 75 years, and we stay focused connected delivering quality, innovation, and worth to each our stakeholders. The motorboat of the MTO is successful enactment with regulatory provisions and does not impact our quality to proceed operating arsenic a marketplace leader.”“We stay a publically listed entity connected the Nigerian Exchange and volition proceed to uphold the highest standards of firm governance, transparency, and worth creation,” helium said.

The MTO's acceptance period, which gave eligible shareholders clip to deliberation astir the offer, began connected March 14, 2025, and ends connected April 4, 2025. If the Offer Document is not received by March 7, 2025, shareholders can entree it online astatine Guinness Nigeria oregon get a transcript from Veritas Registrars Limited.

In bid to warrant that shareholders tin freely commercialized their shares, Guinness Nigeria further stated that its shareholding operation would proceed to fulfill the Exchange's escaped interval standards aft the MTO.

Sharma promised workers and investors that speech from modular governance tweaks, determination would beryllium nary accelerated changes to the company's committee composition, absorption structure, oregon firm governance model pursuing the takeover process.

The institution added that it is inactive dedicated to concern growth, endowment development, and semipermanent worth instauration for its employees, and that occupation information and operational stableness are unaffected.

The PUNCH reported that Guinness Nigeria Plc has announced that the merchantability of Diageo’s shareholding successful Guinness Nigeria to Tolaram has been completed.

Guinness Nigeria set prices

Legit.ng reported that A important beverage manufacturer, Guinness Nigeria, has stated that the prices of definite of its products volition increase.

Guinness stated that the pricing changes would spell into effect by November 11, successful a memo dated November 8 that was signed by its commercialized director, Olusanya Adesanya, according to a The Cable report.

The Guinness Nigeria produces a assortment of alcoholic and non-alcoholic drinks, including Guinness and Malta Guinness.

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Source: Legit.ng