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”)

OANDO PLC SUCCESSFULLY CONCLUDES 40TH AGM Monday, September 11, 2017


 Oando PLC (referred to as “Oando” or the “Company”), Nigeria’s leading indigenous energy group listed on both
the Nigerian and Johannesburg Stock Exchange, today successfully concluded it’s 40th Annual General Meeting at
the Ibom Hall in Uyo, Akwa Ibom State.

At the AGM, shareholders’ expressed confidence in the current management team led by the Group Chief
Executive Officer, Wale Tinubu. The following resolutions proposed in the notice to shareholders, were
unanimously passed:

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

2. Fixing of Auditors’ Remuneration
The Directors were authorised 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:
Mr. Mobolaji Osunsanya
Mr. Oghogho Akpata
Mr. Tanimu Yakubu

4. Election of Members of the Audit Committee
The following persons were elected as members of the Audit Committee for the 2017 Accounts:
Mr. Ike Osakwe
Chief Sena Anthony
Mr. Tanimu Yakubu
Dr. Joseph Ashaolu
Mr. Olusegun David Oguntoye
Mr. Jackson Erinevere Edah

5. Approval of the remuneration of non-executive directors
The remuneration of the non-executive directors of the Company was 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 2017;
which fees are payable quarterly in arrears.

In his closing remarks, Wale Tinubu assured the shareholders of the managements commitment to protect the
interest of all Oando shareholders and continue with it’s aggressive debt reduction programme. “As your
management team we assure you that our main focus will continue to be geared towards sustaining your
Company’s profitability and ensuring adequate return for you our esteemed shareholders. Our story has
always been one of resilience, innovation and growth. I assure you that we are fully committed to
positioning your Company to achieving sustained growth moving forward.”

For more information, please contact:

Ayotola Jagun
Chief Compliance Officer & Company Secretary
ajagun@oandoplc.com
Alero Balogun
Head, Corporate Communications
albalogun@oandoplc.com

For: Oando PLC

Ayotola Jagun
Chief Compliance Officer & Company Secretary
2, Ajose Adeogun Street,
Victoria Island Lagos, Nigeria

12 September 2017
Nigeria

JSE Sponsor
Sasfin Capital (a member of the Sasfin Group)

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