Champion Breweries Meets Free Float Requirement of NGX

Champion Breweries Plc (“the Company”) has notified its shareholders and investing public that it has received confirmation from NGX Regulation Limited (NGX RegCo) that it is now in full compliance with the minimum free float requirement for companies listed on the Main Board of Nigerian Exchange Limited (NGX), having successfully increased its free float to above 20 per cent.

“Consequently, the Below Listing Standard (BLS) Compliance Status Indicator previously displayed beside the Company’s name across the NGX platforms will be removed by NGX RegCo,” it said in a statement.

“This development follows the recently concluded Public Offer and Rights Issue, which has enabled the Company to meet the requirements of Rule 3.1.4 of the Exchange’s Rules Governing Free Float Requirements, well ahead of the extended deadline of 31 October 2026 earlier approved by the Nigerian Exchange Group (NGX or the Exchange).

“The completed capital raises, successfully approved by the Securities and Exchange Commission, are currently in the final stages of CSCS account crediting. All applicants under the Rights Issue have now been credited with their new shares, while crediting for applicants under the Public Offer is ongoing,” the statement reads.

“This milestone transaction, having achieved the primary objective of the acquisition of the Bullet portfolio, has achieved the additional benefit of achieving full compliance of the Exchange’s liquidity and free float requirements.

“The Board and Management of Champion Breweries Plc thank the investing community for their continued support of the Company’s long-term vision and extend special appreciation to NGX RegCo for its guidance as the Company works with the Registrars and the Central Securities Clearing System Plc (CSCS) to complete the share crediting process,” it added.