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NOTICE OF THE 20TH ANNUAL GENERAL MEETING OF THE INITIATES PUBLIC LIMITED COMPANY
October 3, 2019
IBL PLC 2019 RIGHTS ISSUE
December 6, 2019

Extraordinary General Meeting of INTERNATIONAL BREWERIES PLC 19

NOTICE IS HEREBY GIVEN that an Extraordinary General Meeting of INTERNATIONAL BREWERIES PLC (“the Company”) will hold on Tuesday 15 October 2019 at the Conference Hall, Sheraton Lagos Hotel, 30 Mobolaji Bank Anthony Way, Ikeja, Lagos by 10 a.m. for the following business:

 

SPECIAL BUSINESS

To consider and if thought fit, pass the following sub-joined resolutions with or without amendments:

SPECIAL RESOLUTIONS

Resolution 1:

Increase in Authorised Capital

1.1 That the authorised share capital of the Company be and is hereby increased from N4,300,000,000.00 (Four Billion, Three Hundred Million Naira) to N15,000,000,000.00 (Fifteen Billion Naira) by the creation of 21,400,000,000.00 (Twenty One Billion, Four Hundred Million) additional ordinary shares of 50 kobo each, each new share ranking pari passu in all respects with the existing ordinary shares of the Company and that the new shares thus created be registered with the Securities & Exchange Commission and consequently that the Memorandum and Articles of Association of the Company be amended accordingly.

1.2 Pursuant to the increase in the authorised share capital of the Company, the Memorandum of Association be amended by deleting clause six of the Memorandum and substituting same with the following new clause: “The authorised share capital of the Company is N15,000,000,000.00 Fifteen Billion Naira) divided into 30,000,000,000.00 (Thirty Billion) ordinary shares of 50 kobo each.

Resolution

1:

Increase

in Authorised Capital

1.1 That the authorised share capital of the Company be and is hereby increased from N4,300,000,000.00 (Four Billion, Three Hundred Million Naira) to N15,000,000,000.00 (Fifteen Billion Naira) by the creation of 21,400,000,000.00 (Twenty One Billion, Four Hundred Million) additional ordinary shares of 50 kobo each, each new share ranking pari passu in all respects with the existing ordinary shares of the Company and that the new shares thus created be registered with the Securities & Exchange Commission and consequently that the Memorandum and Articles of Association of the Company be amended accordingly.

 

1.2 Pursuant to the increase in the authorized share capital of the Company, the Memorandum of Association be amended by deleting clause six of the Memorandum and substituting same with the following new clause: “The authorized share capital of the Company is N15,000,000,000.00 Fifteen Billion Naira) divided into 30,000,000,000.00 (Thirty Billion) ordinary shares of 50 kobo each.

 

ORDINARY RESOLUTIONS

Resolution 2:

Approval of the Rights Issue

2.1 That, subject to obtaining the approval of the relevant regulatory authorities, the directors be and are hereby authorized to raise additional capital of up to N165,000,000,000.00 (One Hundred and Sixty-Five Billion Naira) by way of a Rights Issue of ordinary shares to the Company’s shareholders (“Rights Issue”) and that the Rights Issue be executed at such price, time and on such other terms and other conditions as the directors may deem fit;

Resolution 3:

Other Acts

3.1 The Directors and/or management of the Company be and are hereby authorized to approve, sign and/or execute all documents, appoint such professional parties and advisers, as may be necessary to give effect to the above resolutions, including without limitation, complying with the directives of any regulatory authority and all acts carried out, steps taken and documents executed (or to be executed), by the Directors and/or management of the Company in connection with the above resolutions be and are hereby approved. 3.2 The Company Secretary be and is hereby authorized to take all steps to give effect to these resolutions and, where applicable, to file and/or register the same with the Corporate Affairs Commission.

 

Full report here.

 

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