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Oando Plc - Investigation By The Securities And Exchange Commission

Release Date: 17/07/2017 07:07:00      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: NGOANDO00002
(?Oando? or the ?Company?)


Lagos, Nigeria -July 14, 2017 ? Investigation by the Securities and Exchange Commission

Our attention has been drawn to a report released by Channels TV on Friday the 14th day of July,
2017 stating that Oando PLC (?the Company? or ?Oando?) is ??under a comprehensive investigation
by the Securities and Exchange Commission?..following petitions filed by some foreign investors in
Oando Nigeria PLC, in relation (sic) shareholding structure following the 1.65 billion Dollars cash that
Oando paid in June 2014 to acquire the oil production assets of Conoco-Phillips in Nigeria??.

The Company understands that the SEC is in receipt of correspondence containing (in our opinion)
unsubstantiated, misleading and defamatory claims with respect to various matters that had already
received board, shareholder and where required SEC approval.

The Company is fully co-operating with the SEC in the discharge of its duties as the capital markets
regulator by providing all appropriate clarifications and rebuttals on the matters raised in the said
correspondence. Oando will be happy to provide full disclosure of the outcome as soon as the SEC
review is completed.

Oando's corporate communications team is always available to respond to any enquiries by members
of the public and media. The Company is concerned about media houses going public with
information without first obtaining a balanced view as this may in some cases lead to the publication
of unconfirmed, misleading and damaging information. Oando is a public listed company quoted on
both the Nigerian and Johannesburg Stock Exchanges and any damaging information in the public
domain could have a material impact on the Company. We therefore demand an immediate retraction
of the report and urge media houses to refrain and/or desist from further publications in future, without
first verifying the accuracy of such facts from Oando.

For further information, please contact:

Ayotola Jagun
Chief Compliance Officer & Company Secretary
2, Ajose Adeogun Street,
Victoria Island,
Lagos, Nigeria.
Tel: +234 (1) 270400, Ext: 6159
ajagun@oandoplc.com.

Nigeria
17 July 2017

Sponsor: Sasfin Capital Proprietary Limited (a division of the Sasfin Group)

Date: 17/07/2017 07:07:00 Supplied by www.sharenet.co.za                     
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