OANDO PLC - Results of AGM

Results of AGM

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 39th ANNUAL GENERAL MEETING

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
Sandton

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

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