Guinness Nigeria announces EGM to approve Rights Issue

Guinness Nigeria Plc has announced its intention to hold an Extraordinary General Meeting of its shareholders to approve resolutions for a rights issue.
The EGM is scheduled for January 24, 2017 in Lagos.
Guinness Nigeria Plc believes the rights issue will allow the company to optimize its balance sheet improving its financial and operational flexibility.
If approved at the EGM, full details of the rights issue, which is expected to raise up to N40 billion if fully subscribed, will be issued prior to the launch.
The rights issue is subject to the approval of the relevant regulatory authorities.