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Oao - Oando Plc - Resignation Of Director

Release Date: 21/09/2010 12:00:02      Code(s): OAO
OAO - Oando PLC - Resignation of director                                       
Oando PLC                                                                       
(Incorporated in Nigeria and registered as an external company in South Africa) 
(External Registration number: 2005/038824/10)                                  
Company registration number: RC 6474                                            
Share Code on the JSE Limited: OAO                                              
Share Code on the Nigerian Stock Exchange: UNTP                                 
ISIN: NGOANDO00002                                                              
("Oando" or the "company")                                                      
RESIGNATION OF DIRECTOR                                                         
Oando announces the resignation of one of its non-executive Directors, Mr.      
Navaid Burney from the Board of Directors effective immediately. Mr Burney`s    
resignation was necessitated by growing demands on his time from other business 
interests. Mr. Burney was an active member of the Board and the Board`s         
subcommittees and instrumental in bringing Oando`s corporate governance practice
in line with international standards.                                           
Group Chief Executive Officer Mr Wale Tinubu stated "We appreciate the          
significant contribution that Mr. Burney has made to the growth and development 
of Oando over the past three years. He has been a source of excellent advice on 
financial and strategic matters."                                               
Oando has commenced a search for a suitable candidate to act as non-executive   
director of the company. Shareholders will be advised of the outcome of that    
search in due course.                                                           
21 September 2010                                                               
Sandton                                                                         
JSE Sponsor                                                                     
Macquarie First South Advisers (Proprietary) Limited                            
Date: 21/09/2010 12:00:02 Supplied by www.sharenet.co.za                     
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