Oando Plc - Results Of The Rights Issue Of 2 956 353 579 Ordinary SharesRelease Date: 27/05/2015 12:00:00 Code(s): OAO
(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?)
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
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
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
(a division of Sasfin Bank Limited)
Date: 27/05/2015 12:00:00 Supplied by www.sharenet.co.za
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