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OANDO PLC - Result of the Rights Issue of 4,548,236,276 ordinary shares of 50 Kobo each at NGN 12.00 (ZAR 0.6468) per share

Release Date: 21/05/2013 07:05:00      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: OANDO
(?Oando? or the ?Company?)

Result of the Rights Issue of 4,548,236,276 ordinary shares of
50 Kobo each at NGN 12.00 (ZAR 0.6468) per share.

Shareholders are referred to the announcements released on the
Stock Exchange News Service (?SENS?) on 21 December 2012, 5
February 2013, 8 February 2013 and 20 February 2013,
respectively, and are advised of the result of the Rights
Issue of 4,548,236,276 ordinary shares of 50 kobo each at NGN
12.00 per share on the basis of two (2) new ordinary shares
for every one (1) ordinary share of 50 kobo each held (the
?Rights Issue?).

1. With respect to the Rights Circular dated Wednesday, 19
    December 2012, in respect of the Nigerian shareholders and
    the Rights Circular dated Monday, 7 January 2013 in respect
    of the South African shareholders, a total of 11,714
    acceptances for 4,596,055,622 ordinary shares were received
    in connection with the Rights Issue.
2. All 11,714 acceptances were found to be valid under the
    terms of the Rights Issue and were accepted and processed
    accordingly. The Rights Issue was therefore 101.50%
3. 10,384 shareholders accepted their rights in full totaling
    811,023,995 ordinary shares and these were allotted.
4. 1,073     shareholders    with   provisional   allotment   of
    851,975,512 ordinary shares partially accepted their rights
    totaling 144,895,022 ordinary shares and traded 115,061,566
    ordinary shares that had been provisionally allotted,
    thereby partially renouncing 592,018,924 ordinary shares
 5. 257   applications for 605,173,715 ordinary shares were
    received in respect of rights traded on the Floor of The
    Nigerian Stock Exchange during the Acceptance period
    (including the 115,061,566 ordinary shares that were traded
    by   shareholders   with   partial  acceptances)   and  were
6. A total of 2,395,124,620 ordinary shares were fully
    renounced bringing the total number of shares renounced to
    2,987,143,544 ordinary shares.
           7. Out of the 10,384 shareholders that accepted their rights
              in full, 3,537 shareholders applied for additional rights
              of 3,034,962,890 ordinary shares, that were allotted out of
              the total 2,987,143,544 renounced ordinary shares.

           Therefore, the basis of allotment of the Rights Issue is as

Range                          No of     Request for     Units    Units           Units    Units
                               holders   additional      %        allotted        %        Cumulative

1             -   1,000        1,564     727,139         0.02%    727,139         100%     727,139
1,001         -   5,000        1,114     2,881,717       0.09%    2,881,717       100%     3,608,856
5,001         -   10,000       359       2,880,304       0.09%    2,880,304       100%     6,489,160
10,001        -   50,000       357       8,464,764       0.28%    8,464,764       100%     14,953,924
50,001        -   100,000      76        6,197,674       0.20%    6,197,674       100%     21,151,598
100,001       -   500,000      49        10,949,432      0.36&    10,949,432      100%     32,101,030
500,001       -   1,000,000    11        8,892,106       0.29%    8,892,106       100%     40,993,136
1,000,01      -   5,000,000    5         7,459,088       0.25%    7,459,088       100%     48,452,224
5,000,01      -   10,000,000   1         5,364,000       0.18%    5,364,000       100%     53,816,224

10,000,001    -   above        1         2,981,146,666   98.23%   2,933,327,320   98.40%   2,987,143,544

Grand Total                    3,537     3,034,962,890   100%     2,987,143,544

           The above stated basis of allotment, as well as this
           announcement, were cleared by the Nigerian Securities Exchange
           Commission on Friday, 17 May 2013.

           For shareholders whose names appear on the register of members
           and transfer books of the Company which are maintained in

              -   First Registrars Nigeria Limited (?First Registrars?) of
                  Plot 2, Abebe Village Road, Iganmu, Surulere, Lagos State
                  will transfer, via electronic means (RTGS), surplus
                  application monies into the bank account of the affected
                  shareholder not later than Friday, 24 May, 2013. Excess
                  cash received under the Rights Issue will be retained in
                  an interest yielding bank account pending the receipt of
                  verifiable claims.

              -   First Registrars will credit the CSCS account of
                  allottees who have provided their CSCS account details
                  with the ordinary shares of 50 kobo each allotted not
                  later than Thursday, 27 June, 2013. Share certificates
                  will be dispatched in the name of successful allotees
                  that have not provided the Registrars with their CSCS
                  account details, through their given addresses, by
                  registered post, no later than Friday, 07 June, 2013.
For shareholders whose names appear on the Register of Members
and transfer books of the Company which are maintained in
South Africa:

  -   Return monies will be dispatched    from   the   designated
      escrow account (if applicable).

  -   Shares alloted will be issued and distributed through
      Computershare   Investor  Services  (Pty)  Limited  in
      accordance with the relevant laws and practices of the
      Republic of South Africa.

Shareholders whose names appear on the register of members and
transfer books of the Company which are maintained in South
Africa will receive the Rights Issue and Excess Rights Issue
shares on or about Friday, 7 June 2013, subject to the receipt
of all requisite regulatory approvals.

South African shareholders will be advised of the final
listing and issue date of the Rights Issue and Excess Rights
Issue shares in due course.

Dated: 21 May 2013

Financial Adviser, JSE Transaction Sponsor and JSE Sponsor
Macquarie First South Capital (Proprietary) Limited

Date: 21/05/2013 07:05:00 Supplied by www.sharenet.co.za                     
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