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Oando Plc - Results Of The Rights Issue Of 2 956 353 579 Ordinary Shares

Release Date: 27/05/2015 12:00:00      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
ISIN: NGOANDO00002
(?Oando? or the ?Company?)

RESULTS OF THE RIGHTS ISSUE OF 2 956 353 579 ORDINARY SHARES OF 50 KOBO EACH
AT NGN 16.50 (ZAR 0.9853) PER SHARE

Shareholders are referred to the announcements released on the Stock Exchange News Service
(?SENS?) of the JSE Limited (?JSE?) on 02 December 2014, 21 January 2015, 27 January 2015, 04
February 2015 and 23 April 2015, respectively, and are advised of the result of the rights issue of
2,956,353,579 ordinary shares of 50 kobo each at NGN 16.50 per share on the basis of one (1) new
ordinary share for every three (3) ordinary shares of 50 kobo each held (the ?Rights Issue?).

1.            With respect to the rights circular dated 13 November, 2014, and in accordance with the
              revised terms of the Rights Issue, a total of 1,460 acceptances (including applications for
              additional shares) for 2,949,933,156 ordinary shares of 50 kobo each were received in
                                               1
              connection with the Rights Issue .
2.            Due to the revision of the Rights Issue terms from 2,217,265,184 ordinary shares of 50 kobo
              each at NGN22.00 per share on the basis of one (1) new ordinary share for every four (4)
              existing ordinary shares to 2,956,353,579 ordinary shares of 50 kobo each at NGN16.50 per
              share on the basis of one (1) new ordinary share for every three (3) existing ordinary shares,
              the surplus amount on the subscription monies received totals NGN7,870.50 in Nigeria and
              ZAR38.70 in South Africa.
3.            All 1,460 acceptances received were found to be valid under the terms of the Rights Issue
              and were all processed and duly allotted.
4.            The Rights Issue was therefore 99.78% subscribed.

Breakdown of the Basis of Allotment

1.            1,435 shareholders accepted their Rights in full, totalling 1,672,255,803 ordinary shares of 50
              kobo each, and were fully allotted.
2.            25 shareholders, with provisional allotment totalling 6,394,552 ordinary shares of 50 kobo
              each, partially accepted their Rights totalling 4,112,509 ordinary shares of 50 kobo each,
              partially renouncing 2,282,043 ordinary shares of 50 kobo each.
3.            No application was received in respect of rights traded on the floor of The Nigerian Stock
              Exchange and JSE during the acceptance period.
4.            A total of 1,277,703,224 ordinary shares of 50 kobo each were fully renounced bringing the
              total number of renounced shares to 1,279,985,267 ordinary shares of 50 kobo each.
5.            Of the 1,435 shareholders that accepted their Rights in full, 508 shareholders applied for
              additional (?Excess Rights Issue?) shares totalling 1,273,564,844 ordinary shares of 50 kobo
              each; all of which were allotted out of the total 1,279,985,267 renounced ordinary shares of
              50 kobo each, as follows:

             Range                    No of          Request for               Units         Units allotted      Units           Units
                                    holders           additional                  %                                 %       cumulative
    1 ? 1 000                           320             100,250               0.01%              100,250      100.00%          100,250
    1 001 ? 5 000                       144             296,659               0.02%              296,659      100.00%          396,909
    5 001 ? 10 000                       15             102,610               0.01%              102,610      100.00%          499,519
    10 001 ? 50 000                      23             465,523               0.04%              465,523      100.00%          965,042
    50 001 ? 100 000                      3             220,833               0.02%              220,833      100.00%        1,185,875
    100 001 ? 500 000                     2             293,334               0.02%              293,334      100.00%        1,479,209
    500 001 ? above                       1       1,272,085,635              99.88%        1,272,085,635      100.00%    1,273,564,844

1
    The acceptances in South Africa have been treated as one entry on the global Rights Issue reports
    Total                    508      1,273,564,844   100.00%    1,273,564,844



The unsubscribed shares amounting to 6,420,423 ordinary shares will revert to the Company?s
unissued authorised share capital.

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

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

-     First Registrars Nigeria Limited (?First Registrars?) of Plot 2, Abebe Village Road, Iganmu,
      Surulere, Lagos State will transfer, via electronic means (RTGS) and return money warrants,
      surplus subscription monies arising from the revision of the Rights Issue terms, to the affected
      shareholders not later than Monday, 01 June, 2015.

-     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 to them not later than Friday, 12 June,
      2015. 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,12 June, 2015.

For shareholders whose names appear on the Register of Members and transfer books of the
Company which are maintained in South Africa:

-     Surplus subscription monies arising from the revision of the Rights Issue terms will be dispatched
      from the designated escrow account.

-     Shares allotted 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.

The CSDP/broker accounts of those shareholders whose names appear on the register of members
and transfer books of the Company which are maintained in South Africa will be credited with the
Rights Issue and Excess Rights Issue shares on or about Friday, 19 June 2015, subject to the receipt
of all requisite regulatory approvals. The listing of Rights Issue and Excess Rights Issue shares and
trading of such shares will commence at 09h00 on or about Friday, 19 June 2015 and trade may not
take place in these shares until the date of listing.


27 May 2015
Sandton

JSE Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)

Date: 27/05/2015 12:00:00 Supplied by www.sharenet.co.za                     
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