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Oando Plc - Results Of The 35th Annual General Meeting

Release Date: 20/07/2012 17:30:00      Code(s): OAO
Oando PLC
(Incorporated in Nigeria and registered as an external company
in South Africa)
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
ISIN: NGOANDO00002
(?Oando? or the ?Company?)

RESULTS OF THE 35th ANNUAL GENERAL MEETING

The   following  resolutions  proposed  in  the   notice  to
shareholders, were unanimously passed at the annual general
meeting of the Company held at Shell Nigeria Hall, The Muson
Centre, 8/9 Marina, Onikan, Lagos State at 10:00, today, 20
June 2012, as follows:

  1. Election of members of the audit committee
     The following persons were elected as the members of the
     Audit Committee for the 2012 Accounts:

                  Mr. Oghogho Akpata;
                  Chief Sena Anthony;
                  Ammuna Lawan Ali;
                  Alhaji Lateef Ayodeji Shonubi
                  Mr. Kabir Babatunde Sarumi; and
                  Mr. Ijoma Fidelis Opia

  2. Re-appointment of Auditors
     The Company re-appointed PricewaterhouseCoopers (PWC) as
     auditors to the Company.

  3. Fixing of Auditors? remuneration
     The directors were authorised        to   fix   the   auditors?
     remuneration.

  4. Re-election of Directors
     The following directors were re-elected as Directors of
     the Company:

          Mr.   Oghogho Akpata;
          Mr.   Omamofe Boyo;
          Mr.   Mobolaji Osunsanya; and
          Ms.   Nana Appiah-Korang.

  5. To elect Directors
     The Company elected the following directors, who were
     appointed to the Board of Directors of the Company with
     effect from 20 October 2011 , as directors. In accordance
     with Article 88 of the Articles of Association of the
     Company (?the articles?), their terms expire but being
     eligible offer themselves for election.

                 Ammuna Lawan Ali, CFR, and
                 Engr.Yusuf N?Njie

  6. Approval of the remuneration of non-executive directors
     The remuneration of the non-executive directors of the
     Company remain N2,500,000.00 per annum for the Chairman
     and N2,000,000.00 each per annum for all other non-
     executive directors with effect from 1 January 2012;
     which fees are payable quarterly in arrears.

  7. Approval to Increase the Authorised Share Capital of the
     Company
     i.   The Authorized Share Capital of the Company was
          increased from Niara 3,000,000,000 (Three Billion Naira)
          to Niara 5,000,000,000    (Five    Billion Naira)      by   the
          creation   and  addition,     of   4,000,000,000     (Four
          Billion)   ordinary    shares    of    50    kobo   (Fifty
          Kobo) each, such new shares to rank pari passu in
          all respect with the existing ordinary shares of the
          capital of the Company;
    ii.   Clause 6 and Article 3 of the Company?s Memorandum
          and Articles of Association be are amended to
          reflect    the    new    authorized       share    capital
          of Niara 5,000,000,000     divided     into      10,000,000,000
          ordinary shares of 50 kobo (Fifty Kobo) each.

20 July 2011
Sandton

JSE Sponsor
Macquarie First South Capital (Proprietary) Limited

Date: 20/07/2012 05:30:00 Supplied by www.sharenet.co.za                     
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