NB appoints Juliet Anammah as Board Chair, announces 20 billion share allotment
Nigerian Breweries has announced the appointment of Mrs. Juliet Anammah as the substantive Chair of its Board of Directors, effective January 1, 2025, making her the first woman to hold this position.
The decision, made at the Board of Directors meeting on December 12, 2024, will see Mrs. Juliet Anammah succeed Mr. Sijbe “Siep” Hiemstra, who has served as interim Board Chairman since the start of the year.
According to the decision made by the Board of Directors, Mrs. Juliet Anammah’s appointment as the substantive Chair will officially take effect on January 1, 2025.
In a statement, the company disclosed, “Mrs. Juliet Anammah was appointed as the substantive Chair of the Board effective the 1st of January 2025. She takes over from Mr. Sijbe ‘Siep’ Hiemstra, who has been the Board Chairman in interim capacity since the start of the year.”
Also at the meeting, the Board announced that it had received regulatory approval from the Securities and Exchange Commission (SEC) for the allotment of 20,706,894,542 ordinary shares at N26.50 per share, for members who participated in the recently concluded Rights Issue.
The recently concluded Rights Issue offered 22.61 billion ordinary shares at 50 kobo each, priced at N26.50 per share, to existing shareholders. It achieved a subscription rate of 91.59%.
What to know about the allotment
The allotment follows the company’s recently concluded Rights Issue, which achieved a 91.59% subscription rate.
The Registrars to the Company, First Registrars & Investor Services Limited (“First Registrars”), will credit the CSCS accounts of successful allottees.
Allottees are required to provide their CSCS account details on their acceptance forms, ensuring the shares are credited by Wednesday, December 18, 2024.
For applicants without CSCS accounts, the shares will be credited through the CSCS system using a Registrar Identification Number (RIN), as directed by the SEC.
Additionally, any surplus subscription funds will be returned to investors by First Registrars no later than Wednesday, December 18, 2024.
Mrs. Juliet Anammah joined the Board on January 1, 2022. Before her appointment as Chair of the Board, she served as the Chair of the Governance and Ethics Committee.
Her career spans over three decades, covering consulting, consumer goods, sales, marketing, e-commerce, and sustainability.
She previously served as Managing Director at Accenture LLC, where she oversaw the Consumer Goods, Retail, and Transportation practices across West Africa.
Following her tenure at Accenture, she became the Chief Executive Officer of Jumia Nigeria, later advancing to the positions of Chair and Chief Group Sustainability Officer at Jumia.
Currently, Mrs. Anammah serves on the boards of various local and international organisations, including Flour Mills of Nigeria Plc. Her appointment as the Company’s first female Board Chair marks a significant milestone in its history.
At the Board of Directors meeting, it was announced that the Company’s Board will be reconstituted effective January 1, 2025, following prior communications.
The new Board will be led by Mrs. J. Anammah as Chair, with Mr. H. Essaadi (Dutch) serving as Managing Director and Chief Executive, and Mrs. A.O. Aroyewun joining as an Independent Non-Executive Director.
Other members include Mr. S. Hiemstra (Dutch) as Non-Executive Director, Mrs. S. Ojekwe-Onyejeli as Independent Non-Executive Director, and Mrs. I.M. Omoigui Okauru, MFR, as Non-Executive Director.
Additionally, Mr. J.A.A. Overmars (Dutch), Mr. R. Pirmez (Belgian), and Mr. I.A. Puri will continue as Non-Executive Directors, while Mr. B.A. Wessels Boer (Dutch) will assume the role of Finance Director.
