Guinness Nigeria Plc has reaffirmed its status as a publicly listed entity on the Nigerian Exchange (NGX), following the commencement of a Mandatory Takeover Offer (MTO) by N Seven Nigeria Limited, a subsidiary of the Tolaram Group.
The MTO involves the acquisition of up to 481,362,887 ordinary shares at ₦81.60 per share, adhering to the regulatory framework outlined in the Investment and Securities Act and the Securities and Exchange Commission (SEC) regulations governing mergers, acquisitions, and takeovers.
As part of this regulatory process, the acceptance period for the MTO will run from March 14, 2025, to April 4, 2025, allowing qualifying shareholders to evaluate and respond to the offer. Shareholders who have not received the offer document by March 7, 2025, can obtain a copy from Veritas Registrars Limited or download it from the Guinness Nigeria website.
This development marks a significant step in the evolving corporate landscape of Guinness Nigeria while ensuring compliance with market regulations.
Despite this regulatory development, Guinness Nigeria maintains its strong market position, operational stability, and long-term growth strategy.
The company has reaffirmed that the MTO will not result in a delisting from the Nigerian Exchange, as Guinness Nigeria is expected to continue meeting the free float requirements post-offer, allowing shareholders to freely trade their shares on the open market.
