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Oao - Oando Plc - Results Of The Extra-ordinary General Meeting

Release Date: 30/09/2009 09:05:26      Code(s): OAO
OAO - Oando Plc - Results of the extra-ordinary general meeting                 
Oando Plc                                                                       
(Incorporated in Nigeria and registered as an external company in South Africa) 
Registration number: RC 6474                                                    
(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" or "the Company")                                                      
RESULTS OF THE EXTRA-ORDINARY GENERAL MEETING                                   
Shareholders are advised that the following resolutions proposed in the notice  
to shareholders, were unanimously passed at the extra-ordinary general meeting  
of the Company held at 10:00 on Tuesday, 29September 2009, as follows:          
1.  Increase of Authorised Share Capital                                        
    The shareholders approved that the Authorised Share Capital of the Company  
be and is hereby increased from NAIRA5,000,000,000 (Five Hundred Million    
    Naira) ($3,825,555 (Three Million, Eight Hundred and Twenty-Five Thousand   
    Five Hundred and Fifty-Five Hundred Dollars)) to NAIRA1,000,000,000 (One    
    Billion Naira) ($7,651,109 (Seven Million Six Hundred and Fifty One         
Thousand, One Hundred and Nine Dollars)) by the creation and addition       
    thereto, of 1,000,000,000 (One Billion) Ordinary Shares of 50 Kobo (Fifty   
    Kobo) (US cents 0.38 ) each, such new shares to rank pari passu in all      
    respects with the existing Ordinary Shares in the capital of the Company.   
The special resolution will be lodged with the Corporate Affairs            
    Commission, Abuja, Nigeria for registration.                                
2.  Approval of the amendment of the Memorandum and Articles of                 
   Association of the Company                                                   
The shareholders resolved that Clause 6 and Article 3 respectively of the   
    Company`s Memorandum and Articles of Association be and are hereby amended  
    to reflect the new authorised share capital of NAIRA1,000,000,000 (One      
    Billion Naira) ($7,651,109 (Seven Million Six Hundred and Fifty One         
Thousand, One Hundred and Nine Dollars)) divided into 2,000,000,000 (Two    
    Billion) Ordinary Shares of 50 Kobo (Fifty Kobo) (US cents 0.38) each.      
Johannesburg                                                                    
30 September 2009                                                               
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 30/09/2009 09:05:26 Supplied by www.sharenet.co.za                     
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