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
                                  December 6, 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 that the Federal
High Court, Lagos Division (the "Court") has further adjourned the petition in Suit No:
FHC/L/CP/494/2021-Venus Construction Company Limited &13 others vs. Ocean and Oil
Development Partners Limited and Oando PLC, which was filed in Court on March 25, 2021 (the
"Petition") to February 5th 2024.

The Petition was filed by Venue 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").

The adjournment to February 5th, 2024, is to enable a further report of compliance with the Court's
order dated June 7, 2022, directing the Company to file its Scheme of Arrangement document
(the "Scheme Document") with the Securities and Exchange Commission (SEC) and the NGX
within 30 days, among other orders.

For further information, please contact:
Ayotola Jagun
Chief Compliance Officer & Company Secretary
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: 06-12-2023 10:49:00
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