Champion Breweries proposes new listed holding company to support next phase of African beverage growth

Résumé détaillé

Champion Breweries Plc has proposed a restructuring that would establish Champion Brands Limited as the new parent company of the group...

…One-for-one share exchange to preserve shareholders’ proportionate ownership

Champion Breweries Plc has proposed a restructuring that would establish Champion Brands Limited as the new parent company of the group, reflecting its evolution into a broader, multi-category African beverage business.

Under the proposed Scheme of Arrangement, Champion Brands Limited will be re-registered as a public limited liability company, Champion Brands Plc, and become the group’s new parent company listed on Nigerian Exchange Limited (NGX).

Champion Breweries Plc will become its subsidiary and be delisted, while enJOYbev B.V., whose portfolio includes the Bullet range of beverages, will also become a direct subsidiary of Champion Brands.

Under the Scheme, existing shareholders will receive one Champion Brands share for every Champion Breweries share held, preserving their proportionate ownership. The restructuring remains subject to the necessary approvals.

One-for-one share exchange: The 11,323,611,233 ordinary shares of Champion Breweries held by Scheme Shareholders will be exchanged for an equivalent number of fully paid ordinary shares in Champion Brands. Shareholders will retain their proportionate ownership without any additional payment.

New group structure: Champion Breweries will become a wholly owned subsidiary of Champion Brands. Champion Breweries’ shareholding in enJOYbev B.V. will also be transferred to Champion Brands, resulting in both Champion Breweries and enJOYbev B.V. becoming direct subsidiaries of Champion Brands.

Transition of Champion Brands to a new publicly listed parent: Following implementation of the Scheme, Champion Breweries’ shares will be delisted from NGX, and Champion Brands, following its re-registration as a public limited liability company, will become the group’s publicly listed parent company, subject to the necessary regulatory approvals.

Champion Breweries has evolved from a Nigerian brewing business into a broader, multi-category beverage group.

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