{"id":10527,"date":"2017-01-24T16:37:29","date_gmt":"2017-01-24T15:37:29","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=10527"},"modified":"2017-01-24T16:37:29","modified_gmt":"2017-01-24T15:37:29","slug":"shareholder-approves-guinness-nig-n40bn-right-issue","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/shareholder-approves-guinness-nig-n40bn-right-issue\/","title":{"rendered":"Shareholder Approves Guinness Nig N40bn Right Issue"},"content":{"rendered":"<p>Shareholders of Guinness Nigeria Plc on Tuesday approved the company\u2019s proposed N40 billion Right Issue aimed at further growing the multinational going concerns.<\/p>\n<p>Specifically, at the company\u2019s held Extra-Ordinary General Meeting (EGM), which saw both local and representatives of international shareholders in attendance, other resolutions of the company were passed.<\/p>\n<p>Speaking at the meeting, the Chairman Guinness Nigeria Plc, Babatunde Savage, said: \u201cGuinness Nigeria has been in this country for over 60 years and, in that time, we have continued to add significant economic and social value to Nigeria and Nigerians. We believe this Rights Issue will positively impact on the financial performance of Guinness Nigeria and help mitigate the impact of increasing finance costs in what continues to be a challenging economic environment in Nigeria. I call on all my fellow shareholders to take this opportunity and support the company\u2019s objectives.\u201d<\/p>\n<p>Guinness Nigeria Plc which is a subsidiary of Diageo plc, had announced at the end of 2016, its intention to offer a Rights Issue as part of plans to optimise its balance sheet and improve its financial flexibility. With the approval of its shareholders, the company is now in a position to raise up to N40bn as fresh cash injection into the business operations.<\/p>\n<p>&nbsp;<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Also speaking at the meeting, Peter Ndegwa, Managing Director\/CEO, Guinness Nigeria Plc said that the company has good fundamentals and potentials for the future. \u201cGuinness Nigeria is a company with excellent fundamentals and we have the right strategy and the right people to grow our business for the future. This Rights Issue in combination with our productivity and cost optimization drive will help provide the fuel to continue to build this business for Nigeria and Nigerians.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>Guinness Nigeria Plc last year became the first total beverage company in Nigeria when it acquired rights to distribute international premium spirits like Johnnie Walker and Baileys in Nigeria in January 2016 and later commissioned a spirits line for locally manufactured spirits at its Benin plant in November. This week, the company is also expected to release its first half results for the 6-month period ended 31<sup>st<\/sup> December 2016.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Shareholders of Guinness Nigeria Plc on Tuesday approved the company\u2019s proposed N40 billion Right Issue aimed at further growing the multinational going concerns. Specifically, at the company\u2019s held Extra-Ordinary General Meeting (EGM), which saw both local and representatives of international shareholders in attendance, other resolutions of the company were passed. Speaking at the meeting, the &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":10528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[1221],"coauthors":[2392,2393],"class_list":["post-10527","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-guinness"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shareholder Approves Guinness Nig N40bn Right Issue - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/shareholder-approves-guinness-nig-n40bn-right-issue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shareholder Approves Guinness Nig N40bn Right Issue - National Wire\" \/>\n<meta property=\"og:description\" content=\"Shareholders of Guinness Nigeria Plc on Tuesday approved the company\u2019s proposed N40 billion Right Issue aimed at further growing the multinational going concerns. 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