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OAO - Oando PLC - Proposed Rights Issue - Finalisation Data Announcement

Release Date: 22/01/2010 11:22:01      Code(s): OAO
OAO - Oando PLC - Proposed Rights Issue - Finalisation Data Announcement        
Oando PLC                                                                       
(Incorporated in Nigeria and registered as an external company in South         
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")                                                      
The distribution of this announcement, the Rights Issue, and the transfer of    
the Rights Issue shares and/or the rights to subscribe for the Rights Issue     
shares in jurisdictions other than the Federal Republic of Nigeria or South     
Africa may be restricted by law and failure to comply with any of those         
restrictions may constitute a violation of the laws of any such jurisdiction.   
Neither this announcement, nor any form of instruction, may be regarded as an   
offer in any jurisdiction in which it is illegal to make such an offer, and in  
particular, is not for distribution in the United States of America,            
Australia, United Kingdom, Canada or Japan.  In those circumstances, this       
announcement is for information purposes only.                                  
It is the responsibility of any person outside the Federal Republic of Nigeria  
or South Africa (including, without limitation, nominees, agents and trustees   
for such persons) receiving this announcement and wishing to take up rights     
under the Rights Issue, to satisfy himself as to full observance of the         
applicable laws of any relevant territory, including obtaining any requisite    
governmental or other consents, observing any other requisite formalities and   
paying any issue, transfer or other taxes due in such territories.              
1.  Introduction                                                                
Oando shareholders are referred to the declaration announcement released on     
SENS on Tuesday, 19 January 2010 and published in the South African press on    
Wednesday, 20 January 2010 relating to the proposed rights issue of 301 694     
876 ordinary shares of 50 kobo each at Naira 70.00 per share on the basis of    
one (1) new ordinary share for every three (3) ordinary shares of 50 kobo each  
held as at the close of business on Friday, 18 December 2009 for those          
shareholders in Nigeria whose names appear on the Register of Members and       
transfer books of the Company and shareholders in South Africa whose names      
appear on the Register of Members and transfer books as at the close of         
business on Friday, 29 January 2010, being the Friday prior to the offer        
opening date for South African shareholders ("the Rights Issue").               
2.  Offer price for South African shareholders                                  
Oando shareholders are advised that the currency conversion at 17h00 South      
African time on Thursday, 21 January 2010 of ZAR 1 = Naira 20.057.  The issue   
price per Oando share for South African shareholders in respect of the Rights   
Issue is therefore ZAR 3.49.                                                    
3.  Approval                                                                    
The Rights Issue circular has been approved by the JSE and has been registered  
by the Companies and Intellectual Property Registration Office of South         
Africa.  The Rights Issue will be implemented in accordance with the timetable  
detailed in the SENS announcement referred to above.                            
4.  Circular to South African shareholders                                      
The Rights Issue circular will be posted to the South African shareholders of   
Oando on Monday, 1 February 2010 and an electronic version of the Rights Issue  
circular will be available on the Company`s website (www.oandoplc.com) from     
Friday, 22 January 2010.                                                        
22 January 2010                                                                 
Leading Issuing House                                                           
Vetiva Capital Management Limited                                               
Joint Issuing Houses                                                            
FCMB Capital Markets Limited                                                    
A member of First City Group                                                    
Stanbic IBTC Bank plc                                                           
A member of the Standard Bank Group                                             
Sponsor to Oando in South Africa                                                
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 22/01/2010 11:22:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  
The SENS service is an information dissemination service administered by the    
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or            
implicitly, represent, warrant or in any way guarantee the truth, accuracy or   
completeness of the information published on SENS. The JSE, their officers,     
employees and agents accept no liability for (or in respect of) any direct,     
indirect, incidental or consequential loss or damage of any kind or nature,     
howsoever arising, from the use of SENS or the use of, or reliance on,          
information disseminated through SENS.                                          

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