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Oao - Oando Plc - Recommendation Of Bonus Issue Of Ordinary Shares

Release Date: 06/05/2010 14:53:01      Code(s): OAO
OAO - Oando PLC - Recommendation of bonus issue of ordinary shares              
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")                                                      
Recommendation of bonus issue of ordinary shares                                
Further to the announcements released on 14 April 2010 and 23 April 2010, the   
board will be recommending bonus shares at the rate of one ordinary share of    
fifty kobo for every two ordinary shares of fifty kobo each held for the twelve 
months to 31 December 2009.  The bonus issue is subject to the approval of      
shareholders at the Annual General Meeting to be held at 10.00 a.m.(GMT+1) on   
Friday, 7 May 2010 and registration by the Securities Exchange Commission.      
The salient dates are:                                                          
                                           2010                                 
Last day for trading to qualify for and     Thursday, 13 May                    
participate in the bonus issue in South                                         
Africa                                                                          
Trading ex bonus issue in South Africa      Friday, 14 May                      
commences on                                                                    
Transfers between the Nigerian Register and Friday, 14 May and Friday, 20 May,  
the South African Register closed           both dates inclusive.               
Record date in South Africa                 Thursday, 20 May                    
Record date in Nigeria                      Thursday, 20 May                    
A further announcement advising the dates the bonus issue becomes unconditional 
and the accounts with CSDPs and brokers will be credited in South Africa with   
bonus shares or issue of new share certificates re the bonus issue posted, will 
be released when these dates have been confirmed.  Shareholders are advised that
bonus shares cannot be traded until they have been issued.                      
The allocation of bonus shares will be such that shareholders will not be       
allocated a fraction of a bonus share and as such any bonus share giving rise to
a fraction of less than one of a bonus share will be rounded down to the nearest
whole number. This is applicable to investors on both the Nigerian and South    
African share register.                                                         
Johannesburg                                                                    
6 May 2010                                                                      
Sponsor                                                                         
Deutsche Securities (SA) (Proprietary) Limited                                  
Date: 06/05/2010 14:53:01 Supplied by www.sharenet.co.za                     
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