SEC Approves Champion Breweries Plc Mandatory Takeover Offer

SEC Approves Champion Breweries Plc Mandatory Takeover Offer

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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