Guinness Nigeria to Remain on NGX Despite Takeover Offer – MD Assures Investors
Guinness Nigeria Plc has reaffirmed its commitment to remaining a publicly listed company on the Nigerian Exchange (NGX) despite the ongoing Mandatory Takeover Offer (MTO) by N Seven Nigeria Limited, a subsidiary of Tolaram Group.
Takeover Offer Details
The MTO involves the acquisition of up to 481.36 million ordinary shares at ₦81.60 per share.
The offer is in line with Investment and Securities Act regulations and SEC merger & acquisition rules.
The acceptance period began on March 14, 2025, and will close on April 4, 2025.
Guinness Nigeria’s Assurance
Speaking on the development, Girish Sharma, Managing Director of Guinness Nigeria, assured stakeholders that:
✅ The company will remain listed on the NGX.
✅ There will be no immediate changes to the company’s board, management structure, or corporate governance.
✅ The shareholding structure will continue to meet NGX free float requirements, ensuring trading liquidity.
“Guinness Nigeria has built a legacy of excellence spanning 75 years, and we remain focused on delivering quality, innovation, and value to all our stakeholders,” Sharma stated.
Additionally, Guinness Nigeria confirmed that employees’ job security and operational stability remain intact, with ongoing commitments to business expansion and talent development.
The announcement follows the completion of Diageo’s shareholding sale to Tolaram, marking a new phase for Guinness Nigeria while maintaining its leadership position in the industry.
#GuinnessNigeria #StockMarket #Investing #CorporateNews #NGX
Guinness Nigeria Plc has reaffirmed its commitment to remaining a publicly listed company on the Nigerian Exchange (NGX) despite the ongoing Mandatory Takeover Offer (MTO) by N Seven Nigeria Limited, a subsidiary of Tolaram Group.
Takeover Offer Details
The MTO involves the acquisition of up to 481.36 million ordinary shares at ₦81.60 per share.
The offer is in line with Investment and Securities Act regulations and SEC merger & acquisition rules.
The acceptance period began on March 14, 2025, and will close on April 4, 2025.
Guinness Nigeria’s Assurance
Speaking on the development, Girish Sharma, Managing Director of Guinness Nigeria, assured stakeholders that:
✅ The company will remain listed on the NGX.
✅ There will be no immediate changes to the company’s board, management structure, or corporate governance.
✅ The shareholding structure will continue to meet NGX free float requirements, ensuring trading liquidity.
“Guinness Nigeria has built a legacy of excellence spanning 75 years, and we remain focused on delivering quality, innovation, and value to all our stakeholders,” Sharma stated.
Additionally, Guinness Nigeria confirmed that employees’ job security and operational stability remain intact, with ongoing commitments to business expansion and talent development.
The announcement follows the completion of Diageo’s shareholding sale to Tolaram, marking a new phase for Guinness Nigeria while maintaining its leadership position in the industry.
#GuinnessNigeria #StockMarket #Investing #CorporateNews #NGX