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OANDO PLC - Results of AGM

Release Date: 02/08/2016 16:26:00      Code(s): OAO     
Oando PLC
(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: OANDO
(?Oando? or the ?Company?)


The following resolutions proposed in the notice to shareholders, were
unanimously passed at the 39th Annual General Meeting of the Company held
at 10:00a.m Nigerian Time on Tuesday, 2nd August 2016:

1.   Re-appointment of Auditors
     The Company re- appointed Ernst and Young (Nigeria) as its auditors.

2.   Fixing of Auditors? Remuneration
     The Directors were authorized to fix the auditors? remuneration.

3.   Re-election of Directors
     The following directors who retired by rotation, were re-elected as
     Directors of the Company:
     HRM M.A. Gbadebo, (CFR);
     Chief Sena Anthony;
     Mr. Mobolaji Osunsanya

4.   Election of Director

     The following directors, whose term expired, were elected as
     Directors of the Company with effect from 8, July 2016:
     Ike Osakwe
     Ademola Akinrele

6.   Election of Members of the Audit Committee
     The following persons were elected as members of the Audit Committee
     for the 2016 Accounts:
     Ike Osakwe
     Chief Sena Anthony
     Tanimu Yakubu
     Mrs. Temilade Funmilayo Durojaiye
     Dr. Joseph Ashaolu
     Mr. Matthew Akinlade

7.   Approval of the remuneration of non-executive directors
     The remuneration of the non-executive directors of the Company were
     fixed at N5,000,000 per annum for the Chairman and N4,000,000 each
     per annum for all other non-executive directors with effect from 1
     January 2016; which fees are payable quarterly in arrears.

2 August 2016

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

Date: 02/08/2016 04:26:00 Supplied by www.sharenet.co.za                     
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