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 Exchange, today has made a further announcement on the N48.8 billion Rights Issue.
South African Oando shareholders (“Shareholders”) are referred to the announcement published on the Stock Exchange News Service of the JSE Limited (“SENS”) on Tuesday, 2 December 2014 (“Announcement”). The Announcement set out information regarding the Rights Issue of 2,217,265,184 ordinary shares of 50 kobo each at N22.00 (ZAR1.3138) per Rights Issue share on the basis of one (1) new ordinary share for every four (4) ordinary shares of 50 kobo each held as at the close of business on Friday, 25 July 2014, for those shareholders in Nigeria whose names appeared on the Register of Members and transfer books of the Company and shareholders in South Africa whose names appeared on the Register of Members and transfer books as at the close of business on Friday, 19 December 2014, which was the business day prior to the Rights Issue opening date of Monday, 22 December 2014, for South African shareholders (“Rights Issue“).
The Rights Issue closed at 12h00 on Friday, 9 January 2015, in South Africa while the Rights Issue was expected to close on Wednesday, 14 January 2015 in Nigeria. An application was made to the Nigerian Securities & Exchange Commission to extend the closing date of the acceptance list in Nigeria. This request was approved and therefore the Rights Issue will now close on Wednesday, 28 January 2015 in Nigeria.
In the event that there is additional information regarding the Rights Issue, same will be communicated to Shareholders.
