Guinness Nigeria Confirms Public Listing Amid Tolaram’s Takeover Offer
Thank you for reading this post, don't forget to subscribe!Guinness Nigeria Plc has reaffirmed its status as a publicly listed entity on the Nigerian Exchange despite the ongoing Mandatory Takeover Offer (MTO) initiated by N Seven Nigeria Limited, a subsidiary of the Tolaram Group.
The offer, which covers up to 481,362,887 ordinary shares at N81.60 per share, follows standard regulatory procedures under the Investment and Securities Act and the Securities and Exchange Commission (SEC) guidelines for mergers, acquisitions, and takeovers.
MTO Acceptance Opens March 14
As part of the process, shareholders can accept the offer between March 14 and April 4, 2025. Investors who do not receive their offer documents by March 7 can obtain copies from Veritas Registrars Limited or download them from the Guinness Nigeria website.
Despite the takeover process, Guinness Nigeria has assured stakeholders that it will continue to operate with stability, maintaining its market leadership and long-term growth strategy. The company confirmed that the MTO will not lead to delisting, as it will remain compliant with free float requirements, allowing shares to continue trading publicly.
Guinness Nigeria Reassures Investors, Employees
Speaking on the development, Managing Director Girish Sharma emphasized the company’s commitment to transparency and operational continuity.
“Guinness Nigeria has built a legacy of excellence spanning 75 years, and we remain dedicated to delivering quality, innovation, and value to all stakeholders. The MTO aligns with regulatory provisions and does not impact our leadership position in the market,” Sharma stated.
The company has also addressed concerns about governance, board composition, and management structure, confirming that no immediate changes will occur beyond routine governance adjustments. Additionally, Guinness Nigeria assured employees that the MTO would not affect job security, operational roles, or business expansion plans.
Clear Guidelines for Shareholders
To ensure clarity, Guinness Nigeria has published a detailed FAQ section on its website, guiding shareholders through the MTO process and their entitlements. Investors seeking further details or wishing to participate in the offer are advised to contact Veritas Registrars Limited.
With a strong heritage of resilience, innovation, and market leadership, Guinness Nigeria remains committed to delivering stakeholder value, sustaining its corporate legacy, and driving growth in Nigeria’s competitive business landscape.
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