OANDO PLC - Delay in the Publication of its 2020 Q3 Unaudited Financial Results.

Delay in the Publication of its 2020 Q3 Unaudited
Financial Results.

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 a Delay in the Publication of its 2020 Q3 Unaudited
Financial Results.

Lagos, Nigeria – Pursuant to the directive of the Nigerian Stock Exchange (NSE) this is to update
Oando PLC’s (referred to as “Oando” or the “Company”) shareholders and stakeholders of the
delay in the release of the Company’s 2020 Q3 Unaudited Financial Statements (“2020 Q3 UFS”)
by the due date of November, 20 2020 (as extended) and as prescribed by the NSE Rules on
Filing of Accounts and Treatment of Default Filing.

The inability of the Company to meet its 2020 Q3 UFS NSE Filing of Accounts obligation by the
stipulated due date is as a result of the indefinite suspension of the Company’s 2018 Annual
General Meeting (AGM).

On July, 20, 2020 by way of an official press statement the Company had informed our
stakeholders that the Securities and Exchange Commission (SEC) notified the public and Oando
on Monday, June 10, 2019, that, further to the Ex-parte Order of the Federal High Court, Ikoyi,
Lagos in Suit No: FHC/L/Cs/910/19 in Mr. Jubril Adewale Tinubu and Anor v Securities &
Exchange Commission & Anor, it had suspended the Company’s 2018 AGM till further notice.

Following the SEC’s suspension of Oando’s AGM, the Company has been unable to appoint
Auditors to commence an audit exercise into the Company’s 2019 accounts. The suspension of
the AGM, has resulted in the following amongst other things:

    1. the inability of the Directors to lay before the shareholders for approval, the Company’s
       2018 Audited Financial Statements;
    2. the shareholders’ inability to re-appoint the auditors of the Company to hold office for the
       2019 financial year;
    3. the inability of the Company to meet its 2019 financial year end NSE Filing of Accounts
       obligation by the due date of March 31, 2020.
    4. the inability of the Company to meet its 2020 Q1, Q2 and Q3 UFS NSE Filing of Accounts
       obligations by their respective stipulated dates.

Oando PLC apologizes for any inconveniences caused and will update the market on the
outcome of the above-mentioned case in due course.

This publication can also be found on the Company’s website: www.oandoplc.com
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

Alero Balogun
Head, Corporate Communications
The Wings Office Complex
17a Ozumba Mbadiwe Avenue
Victoria Island,
Lagos, Nigeria.
Tel: +234 (1) 270400, ext. 6761
albalogun@oandoplc.com




For Oando PLC
Ayotola Jagun
Chief Compliance Officer & Company Secretary



Lagos

7 November 2020

Date: 07-12-2020 01:29:00
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