Oao - Oando Plc - Appointment And Resignation Of Non-executive Directors Release Date: 12/11/2010 14:38:02 Code(s): OAO
OAO - Oando PLC - Appointment and resignation of non-executive directors
(Incorporated in Nigeria and registered as an external company in South
(External Registration number: RC 6474)
Company registration number: 2005/038824/10
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
APPOINTMENT AND RESIGNATION OF NON-EXECUTIVE DIRECTORS
Pursuant to article 88 of the company`s articles of association the board of
directors ("the Board") appoints Mr. Oghogho Akpata and Ms. Nana Afoah Appiah-
Korang as non-executive directors to the Board of the company effective 11
November 2010. Summary Curriculum Vitae for each of the new directors are
Mr. Oghogho Akpata
Mr. Oghogho Akpata is the Managing Partner and Head of the Energy and Projects
Group at Templars Barristers & Solicitors. Mr. Akpata possesses 20 years of
experience in the transactional and dispute resolution aspects of the Nigerian
Oil & Gas sector and advises a broad range of clients including international
oil companies, oil service contractors and a number of multinationals
operating in Nigeria.
Mr. Akpata has been listed among the leading energy and natural resources
lawyers in Nigeria by the Chambers Global guide to the legal profession from
2005 to date. He is also listed as a leading energy practitioner in the "Legal
500" and Who`s Who Legal as a leading Project Finance and Oil & Gas lawyer.
Mr. Akpata is a member of the Association of International Petroleum
Negotiators (`AIPN`), the Chartered Institute of Taxation of Nigeria as well
as the Energy and Natural Resources Section of the International Bar
Ms. Nana Afoah Appiah-Korang
Ms. Nana Afoah Appiah-Korang is a Director of Emerging Capital Partners
(`ECP`). With seven funds and over $1.8 billion under management, ECP is a
leading private equity manager focused exclusively on Africa. Headquartered in
Washington DC, ECP has six offices across Africa and a ten-year track record
of successful investment in companies operating in over 40 countries on the
continent. Ms. Appiah-Korang is involved in deal sourcing, investment
appraisal, execution and value creation. She has also played a key role in
implementing exit strategies for ECP`s investments in both the Africa Fund I
and Africa Fund II. Ms. Appiah-Korang currently serves on the board of
Continental Reinsurance Plc, the leading local reinsurer in Nigeria where she
sits on the establishment and statutory audit subcommittees.
Prior to joining, ECP, Ms. Appiah-Korang served as an Investment Officer for
EMP Global having joined in 2002. Before her employment with EMP Global, Ms.
Appiah-Korang worked for the Real Estate Principal Investment Group of
Goldman, Sachs & Co. in New York where she executed real estate private equity
transactions in the US and played an active role in the marketing of the
Whitehall XII funds to potential investors in the US, Europe and Asia. Ms.
Appiah-Korang graduated from Mount Holyoke College with a bachelor`s degree in
mathematics and a minor in economics.
Resignation of Directors
Oando Plc announces the resignation of two of its non-executive Directors, Mr.
Onajite Okoloko and Ms. Genevieve Sangudi from the Board of Directors with
Mr. Onajite Okoloko resigned from the Board to focus on the affairs of a
competing business which he is actively involved in.
The resignation of Ms. Sangudi was made necessary by growing demands on her
time from other engagements.
The Group CEO Wale Tinubu stated "We appreciate the commitment and valuable
contributions of Mr. Onajite Okoloko and Ms. Sangudi to the success of Oando
and wish them the very best in all their future endeavours."
12 November 2010
Macquarie First South Advisers (Proprietary) Limited
Date: 12/11/2010 14:38:01 Supplied by www.sharenet.co.za
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