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Oando PLC’s Official Statement on the Lifting of the Technical Suspension on the Company’s Shares
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
(“the Company”)
Market Update: Oando PLC's Official Statement on the Lifting of the Technical Suspension on
the Company's Shares
Lagos, Nigeria - Oando PLC (the "Company" or "Oando") would like to update our shareholders,
stakeholders and the general public that the Nigerian Stock Exchange (NSE) has lifted the
technical suspension placed on the Company's shares on October 23, 2017, following a
directive issued by the Securities and Exchange Commission (SEC).
Further to this, the impediment to price movement in the shares of the Company was removed
when the market opened for trading today, April 12, 2018.
The lifting of the technical suspension means that Oando shares will now experience price
movements in response to competitive forces of demand and supply in line with the NSE's
trading rules.
The lifting of the technical suspension by the Regulator is good news for the Company and all
its shareholders will restore and boost investor confidence in the market.
In addition, the forensic audit into the affairs of the Company is currently underway by Deloitte
Nigeria (Deloitte), the SEC appointed forensic team lead.
To date the Company has been fully cooperative with both the SEC and Deloitte. In the spirit of
goodwill, transparency and full disclosure, we will continue to cooperate with the SEC and its
nominated parties in the discharge of their duties as the Capital Markets regulator during this
exercise.
We are hopeful that the forensic audit will have limited impact on the day-to-day operations of
the business and we look forward to a swift and smooth conclusion by the SEC.
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
The Wings Complex, 17a Ozumba Mbadiwe Avenue
Victoria Island Lagos, Nigeria
Lagos, April 12, 2018
Sponsor: Sasfin Capital (a member of the Sasfin group)
Date: 12/04/2018 11:29:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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