Majority of shareholders approve ACCRA Brewery's proposal to de-list from the Ghana stock exchange (Translation)
13 September 2010
ACCRA/08 September 2010
Accra Brewery Limited (ABL) announced today that majority of its shareholders at this morning's annual general meeting voted in favour of the company's proposal to de‐list from the Ghana Stock Exchange.
As a result, SABMiller Africa, the parent company of Overseas Breweries Limited (OBL), which is the majority shareholder of ABL, will be making an offer to the minority shareholders of ABL for and on behalf of OBL, for all of their outstanding ordinary shares in ABL, to provide an exit strategy for their shareholding in ABL.
Chairman of the company's board of directors, Dr. Charles Mensa, reiterated that "ABL remains firmly committed to trading responsibly in Ghana and to contributing to the local economy and its people. The de‐listing of the company is not expected to impact job security, day-to-day conduct of business, and relationships with stakeholders such as employees, suppliers and customers."
Managing Director Greg Metcalf added that "this exercise, when completed, will enable the company to implement a much‐needed business recovery programme".
This SABMiller subsidiary news release has been translated from its local market language to English language for publication on www.sabmiller.com. We have attempted to provide an accurate translation of the original material but due to the difficulties of translation slight differences may exist.
Note, the news release was first published in its local market on [08/09/2010].