May & Baker Nigeria Plc has officially dissociated itself from the 'M&B Equity Stake' investment scheme, describing the purported opportunity as fraudulent and unauthorised by the company. The pharmaceutical and beverage manufacturer issued the warning in a regulatory filing signed by Adetoun Abiru, Secretary of Marina Nominees Limited, on Tuesday, urging the investing public to disregard promotional materials that promise daily or guaranteed returns for the equity stake.
Fraudulent materials circulating online
The company disclosed that the warning followed the circulation of 'fraudulent materials' through social media, messaging applications and other online platforms, purporting to offer an investment opportunity described as an 'M&B Equity Stake.' May & Baker stated unequivocally that it dissociates itself, its subsidiaries and affiliates from the purported scheme and any person, platform, website, group, publication or other communication promoting or soliciting funds in connection with the scheme.
'The company hereby unequivocally dissociates itself, its subsidiaries and affiliates from the purported 'M&B Equity Stake' investment scheme and any person, platform, website, group, publication or other communication promoting or soliciting funds in connection with the scheme,' May & Baker said in the filing.
Public advised to ignore and report
The consumer foods manufacturer stated that any person, platform, flier, message, website or other communication soliciting funds under the guise of May & Baker Nigeria Plc is unauthorised and was not issued by or on behalf of the company. It advised Nigerians to disregard the communications, refrain from making any payment or disclosing personal information in response to the 'M&B Equity Stake' investment materials.
'Report any such fraudulent activity to the appropriate authorities,' the pharmaceutical and beverage company said, urging the investing public not to disclose their financial information to anyone.
No current capital-raising exercise
The company confirmed that it is not currently undertaking any Rights Issue, Public Offer or other capital-raising exercise involving the solicitation of investments from the public. 'Any future capital-raising exercise will be formally communicated through the Company's authorised communication channels and conducted in accordance with applicable laws, regulations and the requirements of the Nigerian Exchange Limited and other relevant regulatory authorities,' the company added.
May & Baker further urged its shareholders, customers, employees and members of the general public to remain vigilant and verify any purported investment opportunity or communication relating to the company through its official communication channels before taking any action. The company's stance underscores the need for investors to rely only on authorised channels for any capital-raising activities, as any future exercise will comply with Nigerian Exchange Limited and other regulatory requirements.
