Nigeria: Guinness Nigeria to divest 1.270 billion ordinary shares

Guinness Nigeria Plc has gotten the approval of the Nigerian Exchange Limited (NGX) for the brewer’s block divestment of 1.270 billion ordinary shares of 50 kobo each at a premium price of N81.60 per share. The deal is valued at N103billion, Peoples Daily Newspaper reported on September 17.

Guinness Nigeria, listed on the beverages – Brewers/Distillers subsector of the Consumer Goods sector of the Nigerian Exchange Limited has 2.190billion shares outstanding each valued at N 63.5 as at September 17, and its market capitalisation at N139.089billion.

According to the NGX Regulation Limited in its X-Compliance Report for September 13, Stanbic IBTC Stockbrokers Limited is the stockbroker for the block divestment which the NGX approved on September 6.

The X-Compliance Report is a transparency initiative of NGX Regulation Limited designed to maintain market integrity and protect investors by providing compliance related information on all listed companies.

The report also revealed that the Guinness Nigeria Plc shares are being sold to NSeven Nigeria Limited, which represent 58.02 percent of the issued shares of Guinness Nigeria Plc held by Guinness Overseas Limited and Atalantaf Limited.

In June, Guiness Nigeria Plc said Tolaram, a Singapore-based holding company is set to spend about N103billion ($70million) to acquire Diageo’s 58.02 percent shareholding in Guinness Nigeria following the signing of the terms of agreement by parties to the deal.

The Register of Members shows that the following shareholders held 5 percent and above of the issued share capital: Guinness Overseas Limited (a subsidiary of Diageo plc) with 1,099,230,804 ordinary shares (2022: 1,099,230,804 ordinary shares) constituting 50.18percent shareholding (2022: 50.18percent shareholding); Atalantaf Limited (a subsidiary of Diageo plc) with 171,712,564 ordinary shares (2022: 171,712,564 ordinary shares) constituting 7.84percent shareholding (2022: 7.84percent shareholding).

Also, Stanbic IBTC Nominees Limited owns 140,075,979 ordinary shares in Guinness Nigeria (2022: 136,610,979 ordinary shares) constituting 6.40percent shareholding (2022: 6.24percent shareholding); and Mutima Opportunity Fund LP with 122,857,111 ordinary shares (2022: 112,502,111 ordinary shares) constituting 5.61percent shareholding (2022: 5.14percent shareholding).

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