The Board of Guinness Ghana Breweries Limited (GGBL) has announced the approval of shareholders to raise additional capital by way of a Rights Issue (‘Offer’) to existing shareholders. “The purpose of the Offer is to restructure the existing finances of the business; address the high cost of historical borrowing; and place the business in a strong position to invest behind its brands and ahead of future growth opportunities. The Offer remains subject to the approval of the Securities and Exchange Commission and the Ghana Stock Exchange (‘GSE’)”, a statement issued in Accra Tuesday said. The approval was obtained at an Extraordinary General Meeting (EGM) held on Tuesday, 14th June, 2011 in Accra, according to the statement, which also stated that GGBL will make the required public announcements and provide relevant information for shareholders in due course and in accordance with all applicable laws. GGBL is a leading beverage business in Ghana with an outstanding collection of premium alcoholic and non-alcoholic brands including Guinness, Star, Malta Guinness, Alvaro, Smirnoff, Johnnie Walker and Baileys Irish Cream. GGBL is a publicly listed company on the GSE. Its shareholders include Diageo, Heineken, and the Social Security and National Insurance Trust.