Raysun Nigeria Limited Acquires 15% Stake In Champion Breweries.
Champion Breweries Plc has announced to its shareholders of the Impending take-over offer by Raysun Nigeria Limited of shares worth N3.11 billion.
The brewer told its shareholders on Tuesday that Raysun’s acquisition aligns with the provisions of Section 131, Part XII of the Investment and Securities Act, No. 29, 2007 (as amended) and Rule 445 of the Securities and Exchange Commission (SEC) Rules and Regulations, 2013 (as amended).
Under the deal, Champions Breweries would release
1,196,799,164 Ordinary shares at N2.60 per share, representing 15 percent of the total shares outstanding in the company.
Already, the take-over document containing an acceptance form has been forwarded to qualifying shareholders. The acceptance offer opened on the 10th of January, 2022 and is due to close on the 31st of January 2022.
“The Take-Over Offer document also, has been sent directly to Qualifying Shareholders of Champion Brewer as at the Qualification Date of 31 December 2021. Qualifying Shareholders will receive the Take-Over Offer Document incorporating an Acceptance Form for use in connection with the Offer,” the notice reads.
“Qualifying Shareholders who wish to tender some or all of the ordinary shares should complete the Acceptance Form in accordance with the instructions printed thereon.
“The completed Acceptance Form, which should be stamped and signed by the Qualifying Shareholder’s stockbroker together with their statement of CSCS account, should be submitted to Africa Prudential Plc at 220 B, Ikorodu Road, Palmgrove, Lagos, so as to be received by
no later than 5:00 pm on 31 January 2022,” it added.
“Qualifying Shareholders who hold ordinary shares in certificated form and wish to tender some or all of the ordinary shares are required to dematerialise their shares via their stockbroker in order to participate in the Take-Over Offer.
“Recipients of the Take-Over Offer Document who have sold or otherwise transferred all their shares in Champion
Breweries Plc, should please forward this document to the purchaser, or agent through whom the shares were sold, for transmission to the purchaser.”
It would be recalled that Champion Breweries Plc had in October 2021 disclosed of the proposed mandatory take-over by the Raysun Nigeria Limited (Raysun) to acquire up to 1,196,799,164 ordinary shares (the Offer Shares) from the other shareholders of Champion Breweries Plc.
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