OAO - Oando PLC - Resignation of director
(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
("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
Macquarie First South Advisers (Proprietary) Limited
Date: 21/09/2010 12:00:02 Supplied by www.sharenet.co.za
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