Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Tuesday, December 18, 2018 10:48AM / NSE
Nigerian Breweries Plc (“the Company”), hereby
confirms that an Edo State High Court (“the Court”) sitting in Benin City on
the 12th of December, 2018 gave judgment against the Company in a suit filed by
one Professor Ernest Izevbigie (“the Plaintiff’).
The said judgment was to the effect that the Company
should apologize to the Plaintiff for what the Court described as “a trade
trick” for the low sugar inscription on the label of one of the Company’s
brands, Amstel Malta. The Company hereby states that it intends to appeal against
the said judgment.
The Company wishes to state that the inscription on
the Amstel Malta label was not a trade trick and that as a Company committed to
compliance with all laws and regulations guiding its operations, it sought and
obtained all the necessary regulatory approvals prior to the deployment of the
said label on the Amstel Malta brand.
Nigerian Breweries Plc remains a responsible corporate
citizen with credible and verifiable operational standards and has never
engaged in any practice that will mislead or deceive its consumers and the
general public. Indeed, the Court stated in the judgment that the inscription
on the label is not misleading and that the sugar content of the product is
within the regulatory range.
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