The shareholders of Oando Plc (the “Company”) are referred to the announcement published on 17 February 2026 wherein shareholders were advised that the Company submitted an application (“Application”) to the Nigerian Exchange Limited (“NGX”) on Friday, 13 February 2026, for the approval and listing of a Rights Issue of 4,415,867,342 (four billion, four hundred and fifteen million, eight hundred and sixty-seven thousand, three hundred and forty-two) ordinary shares of 50 Kobo each at N50.00 per share, on the basis of 1 (one) new ordinary share for every 2 (two) existing ordinary shares held (the “Proposed Rights Issue”).
The Company is still in the process of obtaining various regulatory approvals in respect of the Proposed Rights Issue, including the approval of the Nigerian Securities and Exchange Commission, the NGX, and the JSE Limited (JSE).
Following submission of the Application to the NGX, the qualification date for participation in the Rights Issue by shareholders in line with the Rules and Regulations of the Securities and Exchange Commission, Nigeria is set as 13 February 2026 (“NGX Record Date”), irrespective of further regulatory approval processes required in finalising the Rights Offer. The record date for shareholders on the JSE register of members (“JSE Record Date”) will be determined and announced in due course, in accordance with the requirements of the JSE.
Shareholders are hereby advised that transfers by shareholders between the two registers must be restricted between the NGX Record Date and the JSE Record Date. Accordingly, shareholders in Nigeria whose names appear on the register of members and transfer books of the Company (“Nigerian Share Register”) and shareholders in South Africa whose names appear on the register of members and transfer books of the Company (“South African Share Register”) are restricted from transferring between the Nigerian Share Register and the South African Share Register with immediate effect, until a further announcement is made in relation to the JSE Record Date.
A further announcement, including salient dates and times relating to the Proposed Rights Issue will be published in due course.
