Champion Breweries Plc is moving forward with plans to delist its shares from the official list of Nigerian Exchange Limited (NGX), following a court-ordered meeting scheduled for December 3, 2026 in Lagos.
The meeting is being convened pursuant to an order of the Federal High Court issued on November 5, 2026, under Section 715 of the Companies and Allied Matters Act (CAMA) No. 3 of 2020. Shareholders will gather to vote on a comprehensive Scheme of Arrangement that will transition the brewer into a holding company (Holdco) structure.
The court ordered meeting marks a pivotal milestone in Champion Breweries’ ongoing corporate evolution, coming on the heels of major expansion milestones and robust financial performance through the 2026 fiscal year.
The company’s revenue in ine months to September 30 grew by 140 percent year-on-year to N51.4 billion, up sharply from N21.4 billion reported in the corresponding period of 2025.
This massive top-line jump was primarily propelled by the strategic consolidation of enJOYbev B.V. into the group, offsetting softer sales volumes in the standalone brewery operations.
Operating profit expanded by 48 percent to reach N6.3 billion, compared to N4.3 billion during the same period in the previous year. Profit After Tax ticked up to N2.18 billion, building on the N2.05 billion recorded previously, even as the business absorbed higher finance and operational cost pressures environment-wide.
Core operational cash generation remained resilient, while investing activities reflected major capital realignment, heavily underscored by the acquisition framework leading into the enJOYbev B.V. integration and HoldCo architecture.
These robust financial foundations provide Champion Breweries Plc the underlying valuation and operational momentum driving the current scheme of arrangement and transition into Champion Brands Limited.
The special resolutions at the meeting will empower the Board of Directors to take all necessary steps to delist Champion Breweries Plc from the Nigerian Exchange Limited (NGX) once the restructuring takes effect.
Under the Scheme, all 11,323,611,233 ordinary shares of 50 Kobo each currently held by shareholders will be transferred to Champion Brands Limited (HoldCo). In return, shareholders will receive shares in HoldCo on a one-for-one (1 for 1) basis, maintaining their exact proportionate ownership.
The board will also seek shareholders approval to transfer Champion Breweries’ shares and interests in enJOYbev B.V. to HoldCo, making it a direct subsidiary of the new parent entity.
The resolutions will also empower the company’s board and legal counsel to secure necessary no-objections and clearances from the Securities and Exchange Commission (SEC), Corporate Affairs Commission (CAC), Central Securities Clearing System (CSCS), and other relevant regulatory bodies.
Jacob Imo-Abasi, chairman of the Board of Directors, will preside over the meeting. Voting will be conducted by poll, and shareholders who cannot attend in person may submit completed proxy forms to Africa Prudential Plc at least 24 hours before the 12:00 noon start time.