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Oando Plc - Signs $115.8 Million Midstream Agreement With Helios Investment Partners

Release Date: 19/09/2016 10:17:00      Code(s): OAO     
Oando Plc
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC 6474
(External company registration number: 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002NG
(?Oando? or ?the Company?)

PRESS STATEMENT


Oando PLC Signs $115.8 Million Midstream Agreement With Helios Investment
Partners

For Immediate Release

(Lagos, Nigeria) ? Oando PLC (referred to as ?Oando? or the ?Group?), Nigeria?s leading
indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchange, has
announced the execution of a definitive agreement with a vehicle owned by funds advised by
Helios Investment Partners LLP (?Helios?), a premier Africa-focused private investment firm,
to acquire 49% of the voting rights in Oando?s midstream business subsidiary, Oando Gas
and Power Limited (?OGP?).

The agreed transaction consideration of US$ 115.8 million is conditional upon the receipt of
regulatory approvals and subject to customary purchase price adjustments. Upon completion,
Oando will retain 49% of the voting rights in OGP. The residual 2% will be held by a local
entity.

OGP is the pioneer developer of Nigeria?s foremost natural gas distribution network and has
subsequently grown to become the largest private sector gas distributor in Nigeria, delivering
at peak, 70 million standard cubic feet per day (?mmscf/d?) to over 175 industrial and
commercial customers via its vast gas infrastructure network.

With over 260km in pipeline infrastructure built, OGP provides unique energy solutions
primarily through its subsidiaries: Gaslink Nigeria Limited (?Gaslink?), Gas Network Services
Limited (?GNSL?), and Central Horizon Gas Company (?CHGC?).

Speaking about the agreement, Oando PLC Group Chief Executive, Adewale Tinubu said:
?This strategic alliance will firmly leverage our local knowledge and expertise alongside Helios?
strong financial capabilities. Through the optimization of our existing business operations and
the expansion of our footprint, we will revolutionize the sector and position gas as a key driver
for Nigeria?s economic empowerment. We look forward to completing the transaction, which
will create a formidable leader of gas and power solutions in sub-Saharan Africa.?

Co-founder and managing partner of Helios Investment Partners, Tope Lawani added: ?This
transaction is consistent with Helios? strategy of investing in businesses that provide cost-
effective and reliable energy access solutions. We look forward to supporting OGP?s continued
growth and working with all stakeholders to improve the reliability of gas supply to the
company?s numerous industrial customers, who all play a critical role in the growth of the
economy.??


For further information, please contact:
Ainojie ?Alex? Irune
Head, Corporate Communications

2 Ajose Adeogun Street,
Victoria Island,
Lagos, Nigeria.
Email: airune@oandoplc.com
Tel: +234 (1) 2702400 Ext 6270


Helios Investment Partners
Fergus Wheeler / Louisa Feltes / Jess Gill
Email: helios.sc@fticonsulting.com
Tel: +44 203 727 1000

19 September, 2016
JSE sponsor
Sasfin Capital (a division of Sasfin Bank Limited)

Date: 19/09/2016 10:17:00 Supplied by www.sharenet.co.za                     
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