By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Cadbury Nigeria Shareholders Approve $7.7M Debt to Equity Conversion
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Cadbury Nigeria Shareholders Approve $7.7M Debt to Equity Conversion

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: February 15, 2024
Share
2 Min Read
Cadbury Nigeria
Cadbury Nigeria
SHARE

Shareholders of Cadbury Nigeria Plc have granted approval for the conversion of an outstanding intercompany loan amounting to N7.03 billion ($7.71 million) owed to its principal shareholder, Cadbury Schweppes Overseas Limited, into equity.

The decision was reached during the extraordinary general meeting held on February 8, 2024, according to a corporate filing on the Nigerian Exchange Limited (NGX).

Cadbury Nigeria outlined that as part of the approved measure, it will allocate 402,082,657 ordinary shares of 50 kobo each to Cadbury Schweppes Overseas in lieu of the debt.

These newly issued shares will carry equal rights with the existing ordinary shares in the company. The price per share is set at ₦17.50, reflecting the share price as of the close of trading on December 27, 2023.

- Advertisement -

Additionally, the stakeholders endorsed the increase of Cadbury Nigeria’s share capital from N939.1 million to N1.14 billion through the issuance of the aforementioned 402,082,657 ordinary shares of 50 kobo each.

The company’s directors have been granted authority to take the necessary steps to implement this increase.

The company’s statement highlighted, “Board of Directors are authorised to take all such lawful steps, to pass all requisite resolutions and do all such other lawful acts and/or things as may be necessary, incidental, supplemental, consequential to giving effect to the resolutions above including listing the new shares on the stock exchange.”

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Cadbury Nigeria
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Bill to Introduce Parliamentary System Passes First Reading in House of Reps
Next Article Nigerian Parliament in 1960 Parliamentary System of Government in Nigeria: What You Should Know

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Last updated: 13 hours ago (June 28, 2025 10:51 am)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

FG to Plant 20 Billion Trees Next Rainy Season in National Reforestation Drive, Says VP Shettima
International News
Federal Government to Overhaul Civil Servants’ Healthcare Policy Amid Rising Concerns
News Top stories
Paul Pogba Joins AS Monaco on Free Transfer After Doping Ban
Sport
Aminu Alhassan Dantata
Dantata Family Confirms Burial Plans for Late Aminu Dantata
News
Goodluck Jonathan
Jonathan: “Every Day I Was Hearing About a Coup” During Yar’Adua Era
News
- Advertisement -
Ad imageAd image

You May Also Like

Frank Edoho
Celebrities

‘Maybe I’m Not Good at Marriage’ – Frank Edoho Opens Up About Second Divorce

Damilola A.
Damilola A.
June 28, 2025
Kayode Peters
News

Nigerian Filmmaker Kayode Peters ‘KP’ Dies After Prolonged Illness

Muhammad A. Aliyu
Muhammad A. Aliyu
June 28, 2025
Sport

Rivers Angels Clinch Historic 10th President Federation Cup Title in Dramatic Fashion

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 28, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?