Unilever Overseas Holdings B.V. (Unilever Overseas) has notified the Nigerian Stock Exchange (NSE) that its ongoing Tender Offer to individual shareholders of Unilever Nigeria plc (Unilever Nigeria or the Company) has been extended from June 10, 2015 to June 25, 2015.
The Company has obtained approval the Securities and Exchange Commission (SEC) for the extension. Under the terms of the Offer, Unilever Overseas is seeking to acquire up to 942,215,930 shares in the Company at N45.50 per share in cash, which will increase its equity stake in the Company from 50.10% up to a maximum of 75%.
Unilever stated that the extension is to provide Unilever Nigeria’s shareholder base (and in particular the retail shareholders) a fair opportunity to participate in the Tender Offer, following the dislocation of the postal and transportation services due to the fuel crisis.
Unilever has confirmed that it has no plans to delist Unilever Nigeria from the Nigerian Stock Exchange. Any shareholder interested in tendering their shares should contact their stockbroker or GTL Registrars Limited at 2 Burma Road, Apapa, Lagos.
