GSK Begins Payment of N17.42 Per Share to Minority Investors

April 8, 2024
GSK Agbara Factory

By Aduragbemi Omiyale

GlaxoSmithKline Consumer Nigeria (GSK) Plc has commenced the payment of the approved N17.42 per share to minority shareholders as part of the Scheme of Arrangement for the dissolution of the company.

GSK Nigeria had earlier informed the investing community that it intends to leave the Nigerian market because of the tough business environment.

It also stated that the action would lead to its exit from the Nigerian Exchange (NGX) Limited, where it has traded its equities for many years.

The core shareholder of the firm then proposed to acquire all the shares held by minority investors and the price of N17.42 per unit was agreed to be paid.

Information reaching Business Post revealed that the firm has commenced the payment to the beneficiaries through its registrars, Greenwich Registrars & Data Solutions.

Shareholders whose accounts have not been mandated for the payment have been advised to do so through the registrars, while those who have authorised the payment have been assured of credit alerts.

In February 2024, at the request of the organisation’s board, the entire shares of GSK Nigeria were delisted from the nation’s stock exchange.

The company is a major player in the pharmaceutical and biotechnology sectors in Nigeria, with household brands like Panadol, Sensodyne, Andrews Liver Salt, Voltaren, Panadol, Otrivin, Horlicks, Ribena, Lucozade, Macleans, and Ampiclox, among others.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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