L-R: Chief Executive Officer, NGX, Jude Chiemeka: Managing Director, Nigerian Breweries Plc, Hans Essaadi; Company Secretary/Legal Director, NB Plc, Uaboi Agbebaku; Group Chief Executive Officer, Vetiva Advisory Services Limited, Chuka Eseka; Chief Executive Officer, Stanbic IBTC Capital, Oladele Shotubo and Finance Director, NB Plc, Ben Wessels Boer during the ‘Behind the N600 billion Rights Issue’ presentation held at the Nigeria Stock Exchange floor in Lagos...
Speaking during the “Facts Behind the N599.1 Billion Rights Issue” presentation at the Nigerian Exchange Limited, NGX, on Tuesday, September 17, 2024, the Managing Director of Nigerian Breweries Plc, Hans Essaadi, explained that the losses recorded in its financial statements was due mainly to the impact of the currency devaluation on foreign exchange denominated payables and higher interest expenses.
Also speaking during the presentation, the Chief Executive Officer of NGX, Jude Chiemeka, noted that ‘Facts Behind the Figures/Issue’ remains a platform to support its mission to enhance transparency and stimulate engagement in the capital markets. He added that the NGX was delighted that Nigerian Breweries Plc chose the platform to present its financial performance, operational updates, and strategic business recovery plan including the N588.1 Billion Rights Issue.