GSK completes divestment, to pay shareholders special dividend

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9 years ago

GlaxoSmithKline Consumer Nigeria plc, has announced the successful completion of divestment of its drinks bottling and distribution business to Suntory Beverage & Food Nigeria Limited (SBFN).

In a letter to the Nigerian Stock Exchange on Friday, it noted that following this approval, GSK has transferred ownership of the drinks business in Nigeria to Suntory Beverage & Food Nigeria Ltd effective October 1, 2016, following the recent approvals obtained from the shareholders and the Nigeria Securities & Exchange Commission (SEC).

The new GSK Consumer Healthcare Company (retained business) consists of the Consumer Healthcare Wellness, Oral Healthcare and Nutrition categories and Pharmaceutical 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 company’s Register of Members and Register of Transfers would be closed from Monday, October 3, 2016 to Friday, October 7, 2016, both days inclusive.

Dividend warrants for the special dividend declared by the company at its Extraordinary General Meeting in July, 2016, subject to appropriate withholding tax deductions, will be posted on October 12, 2016 to holders of shares whose names appear in the Register of Members at close of business on September 30, 2016.