Nigeria-based International Breweries Plc has secured approval from its shareholders for a $379.9 million convertible loan from AB InBEV Nigeria Holdings BV, aimed at repaying a loan from Citibank Abu Dhabi. The approval came during an extraordinary general meeting in Lagos. Shareholders also greenlit directing all sums owed to AB InBEV Nigeria Holdings BV under the loan towards shares in the company's upcoming Rights Issue.
Additionally, they authorized specific directors to sign necessary documents to implement these resolutions, including regulatory compliance. Moreover, directors were empowered to sign requisite documents, ensuring compliance with regulatory directives.