OANDO PLC - Oando Plc Announces Federal High Courts Adjournment of Hearing on Its Scheme of Arrangement

Oando Plc Announces Federal High Court’s Adjournment of Hearing on Its Scheme of Arrangement

 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”)


   OANDO PLC ANNOUNCES FEDERAL HIGH COURT’S ADJOURNMENT OF HEARING ON ITS
                         SCHEME OF ARRANGEMENT
                             22nd May 2023

Lagos, Nigeria – Oando PLC (referred to as “Oando” or the “Company”), Nigeria’s leading indigenous
energy group listed on both the Nigerian Exchange Limited (NGX) and Johannesburg Stock Exchange
(JSE), hereby wishes to notify the public and its shareholders, pursuant to the press statement issued on
the Company’s website on January 30, 2022 titled “‘Oando Plc Announces Federal High Court’s

Adjournment Of Hearing On Date To File Its Scheme Of Arrangement Document” that Honourable
Justice Aneke sitting at the Federal High Court, Ikoyi, Lagos Division (the “Court”) has further adjourned
the matter to 10th October 2023.

The petition in Suit No: FHC/L/CP/494/2021- Venus Construction Company Ltd &13 others vs. Ocean and
Oil Development Partners & Oando PLC, was filed in Court on March 25, 2021 by fourteen (14)
shareholders of the Company (the “Petition”). The adjournment to 10th October, 2023 is to enable report
by the Company of its compliance with the Court’s order dated June 7, 2022, and update the Court on the
status of the Scheme of Arrangement.

The Petition was filed by Venus Construction Company Limited, acting by itself and for and on behalf of
other minority shareholders of Oando, and is brought pursuant to sections 353, 354 and 355 of the
Companies and Allied Matters Act 2020 (“CAMA”). Ocean and Oil Development Partners Limited (“OODP”),
the majority shareholder of Oando and the Company are listed as the 1st and 2nd Respondents (together,
the “Respondents”).

Ends


For further information, please contact:
Ayotola Jagun
Company Secretary
The Wings Office Complex, 17a Ozumba Mbadiwe Avenue, Victoria Island, Lagos, Nigeria.
Tel: +234 (1) 270400, Ext 6159
ajagun@oandoplc.com
For: Oando PLC
Ayotola Jagun
Chief Compliance Officer & Company Secretary


JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 22-05-2023 01:40:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.