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Oao - Oando Plc - Results Of Annual General Meeting And Confirmation Of Dividend

Release Date: 31/07/2009 13:08:01      Code(s): OAO
OAO - Oando Plc - Results of annual general meeting and confirmation of dividend
now unconditional                                                               
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                                 
ISIN: NGOANDO00002                                                              
("Oando")                                                                       
Results of Annual General Meeting and confirmation of dividend now unconditional
Dividend                                                                        
In an announcement dated 9 June 2009, shareholders of Oando were informed that  
the board of directors recommended a final cash dividend of Three Naira (Naira  
3.00) for each ordinary share of 50 kobo each.  The dividend was subject to the 
approval of shareholders at the Annual General Meeting convened to be held on 30
July 2009, and is payable to shareholders who were recorded in the registers of 
Oando at the close of business on Friday, 3July2009.                            
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 payment are as follows:  
Dividend payment date in Nigeria                     Monday, 3 August 2009      
Dividend payment date in South Africa (electronic    Monday, 3 August 2009      
and certificated register)                                                      
On Monday, 3 August 2009, 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 Monday, 3 August
2009.                                                                           
Currency conversion                                                             
The currency conversion at 11:00 South African time on Friday, 5 June 2009 was 1
Rand = Naira 19.57. Accordingly, the dividend of Three Naira (Naira 3.00)(being 
the balance to be paid) per ordinary share equates to 15.32959 cents per        
ordinary share.                                                                 
Withholding tax                                                                 
Shareholders are advised that a withholding tax of 10% on the dividend is       
payable by all shareholders. Accordingly the dividend net of withholding tax is 
Two Naira Seventy Kobo (Naira 2.70) (13.79663 cents) per ordinary share.        
Johannesburg                                                                    
31 July 2009                                                                    
Sponsor:                                                                        
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 31/07/2009 13:08:01 Supplied by www.sharenet.co.za                     
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