The board of Nigerian Breweries Plc at the weekend said it has received approval of the country’s Securities & Exchange Commission (SEC) to extend the acceptance period of its N599.1bn rights issue to Friday, October 18, 2024.

A notice of the extension signed by its Legal Director/Company Secretary, Uaboi Agbebaku, the company said followed the closure of the period for acceptance of the right issue on Friday, October 11, 2024.

He noted that the acceptance period was extended to accommodate the public holidays observed during the initially scheduled acceptance period.

According to Agbebaku, the extension was meant to provide shareholders with ample opportunity and time to take up their rights, adding that during the extension period, insiders’ dealings on the Company’s shares will be strictly limited to participation in the rights issue as earlier approved by the NGX in respect of the non-dealing period with regard to the company’s Unaudited Financial Statements for the period ended September 30, 2024.

Investdata News recalls that as part of the rights issue which opened on September 2, 2024, and was originally scheduled to close on October 11, 2024, NB Plc is offering its shareholders 22.61bn ordinary shares at N26.50 per share in the ratio of  11 new shares for every five held at the close of business on July 12, 2024.