Extension of Acceptance Period for Oando PLC’s Rights Issue;
Lagos, Nigeria – Oando PLC (referred to as “Oando” or the “Group”), Nigeria’s leading indigenous energy group listed on both the Nigerian and Johannesburg Stock Exchanges, today announced a 2 week extension of the Acceptance period of its Rights Issue.
Shareholders are advised that due to an industrial action by pensioners of the Nigerian Postal Service in January 2013, resulting in the disruption of distribution of Rights Circulars to the majority of Oando’s shareholders, the Nigerian Securities & Exchange Commission has approved a two-week extension of the Acceptance period. Accordingly, the Acceptance period of the Rights Issue will now close on Wednesday, 20 February 2013.
The revised dates for Nigerian shareholders relating to the Rights Issue are as follows:
| Activity |
Date |
| Acceptance List closes |
20 February,2013 |
| Receiving Agents forward returns |
06 March, 2013 |
| Forward proposed basis of allotment and draft newspaper announcement to the SEC |
03 April, 2013 |
| Receive SEC’s clearance of the basis of allotment |
24 April, 2013 |
| Disburse net issue proceeds to Issuer |
26 April, 2013 |
| Allotment announcement |
30 April, 2013 |
| Return excess/surplus monies |
30 April, 2013 |
| Dispatch share certificates/commence arrangements to credit CSCS accounts |
15 May, 2013 |
| Forward Declaration of Compliance to The Nigerian Stock Exchange |
22 May, 2013 |
| Submit Issue summary report to the SEC |
23 May, 2013 |
| Listing of Issue shares on the NSE and JSE (CSDP broker accounts in respect of dematerialized
shareholders credited) and trading commences |
05 June, 2013 |
Ends
For More information, please contact:
Tokunboh Akindele
Head, Investor Relations
aakindele@oandoplc.com
Oando PLC
10th Floor
2, Ajose Adeogun Street
Victoria Island
Lagos, Nigeria
Tel: +234 (1) 2601290-9, Ext 6396
DL: +234 (1) 2702496
Fax: +234 (1) 2611366
Website: www.oandoplc.com
