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Oao - Oando Plc - Results Of Annual General Meeting

Release Date: 27/05/2008 17:26:09      Code(s): OAO
OAO - Oando Plc - Results Of Annual General Meeting                             
Oando Plc                                                                       
(Incorporated in Nigeria and registered as                                      
an external company in South Africa)                                            
Registration number RC6474                                                      
(External company registration number 2005/038824/10)                           
Share code on the JSE Limited: OAO                                              
Share code on the Nigerian Stock Exchange: UNTP                                 
("Oando" or "the Company")                                                      
Results of Annual General Meeting                                               
Final dividend number 17 and bonus issue of ordinary shares now                 
unconditional                                                                   
Dividend and bonus issue                                                        
In an announcement dated 22 April 2008, shareholders of Oando were informed     
that the directors of Oando had recommended a final dividend of Six Naira       
(N6.00) per ordinary share of fifty kobo and an issue of bonus shares at        
the rate of one ordinary share of fifty kobo for every five ordinary shares     
of fifty kobo each held.  Both the dividend and the bonus issue were            
subject to the approval of shareholders at the Annual General Meeting           
convened to be held on 27 May 2008, and are payable to shareholders who         
were recorded in the registers of Oando at the close of business on Friday,     
9 May 2008.                                                                     
Results of Annual General Meeting                                               
All the resolutions proposed at the Annual General Meeting were duly passed     
by the requisite majority of shareholders present and voting at the             
meeting.                                                                        
The remaining salient dates applicable to the dividend and bonus issue are:     
Dividend payment date in Nigeria          Friday, 30 May 2008                   
Trading in bonus shares commences on the  Friday, 30 May 2008                   
JSE                                                                             
Dividend payment date in South Africa     Wednesday, 4 June 2008                
(electronic and certificated register)                                          
Accounts with CSDPs and brokers credited  Friday, 6 June 2008                   
in South Africa or issue of new share                                           
certificates re the bonus issue effected                                        
On Wednesday, 4 June 2008, dividends due to certificated shareholders on        
the South African registry will either be electronically transferred to         
shareholders` bank accounts or, in the absence of suitable mandates,            
dividend cheques will be posted to such shareholders.                           
Shareholders who hold dematerialised shares will have their accounts, at        
their Central Securities Depository Participant or broker, credited on          
Wednesday, 4 June 2008 in respect of the dividend and on Friday 6 June 2008     
in respect of the bonus issue.                                                  
Currency conversion                                                             
The currency conversion at 11:00 South African time on 21 April 2008 was 1      
Rand = Naira 15.157. Accordingly, the dividend of Six Naira (N6.00) per         
ordinary share equates to 39.6 cents per ordinary share.                        
Withholding tax                                                                 
Shareholders are advised that a withholding tax of 10% is payable by all        
shareholders on the dividend. Accordingly the dividend net of withholding       
tax is Five Naira Forty Kobo (N5.40) (35.64 cents per ordinary share).          
Johannesburg                                                                    
27 May 2008                                                                     
Sponsor:                                                                        
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 27/05/2008 17:26:09 Supplied by www.sharenet.co.za                     
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