GlaxoSmithKline Consumer Nigeria Plc Announces the Completion of Its Divestment

Proshare

Tuesday, October 04, 2016 10:54am / NSE

We announce the completion of the divestment of the GlaxoSmithKline Consumer Nigeria Plc Drinks and Distribution business to Suntory Beverage & Food Nigeria Limited (SBFN). This follows the recent approvals obtained from the shareholders and the Nigeria Securities & Exchange Commisson (SEC).

Following this approval, GSK has transferred ownership of the Drinks business in Nigeria to Suntory Beverage & Foods Nigeria Ltd effective 1st October 2016.

The new GSK Consumer Healthcare Company (retained business) consists of the Consumers Healthcare Wellness, Oral Healthcare and Nutrition categories and Pharmaceuticals business, with a portfolio of leading healthcare brands. The retained brands include Sensodyne,  Macleans, Panadol, Horlicks, Andrews Liver Salts, Voltaren, Otrivin and CAC 1000. GSK Nigeria will continue to be listed on the Nigerian Stock Exchange (NSE).

In the light of the successful completion of the divestment, the Register of Members and Register of Transfers of the Company will be closed from Monday 3rd October to Friday 7th October 2016, both days inclusive. Dividend warrants for the special dividend declared by the company  at its Extra-Ordinary General Meeting of 4th July 2016, subject to appropriate withholding tax deductions, will be posted on 12th October 2016 to holders of shares whose name appear in the Register of Members at close of business on 30th September 2016.

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