The Securities and Exchange Commission (SEC) has given its authority to proceed with the proposed Mandatory Takeover Offer (MTO) for One Billion, One Hundred and Ninety-Six Million, Seven Hundred and Ninety-Nine Thousand, One Hundred and Sixty-Four (1,196,799,164) ordinary shares of Champion Breweries Plc (the Company) at N2.60 per share by The Raysun Nigeria Limited. The MTO represents 15.3% of the equity stake in Champion Breweries Plc.
Below are the timelines for the MTO:
Offer Opens: 8.00 a.m., Monday, 10 January 2022.
Offer Closes: 5.00 p.m., Monday, 31 January 2022.
The qualification date for the MTO is Friday, 31 December 2021 by 5.00 p.m.
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