20 Jul - 2 min read

Oando enters into a settlement with the SEC

Oando enters into a settlement with the SEC

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 ENTERS INTO A SETTLEMENT WITH THE SECURITIES & EXCHANGE COMMISSION

Lagos, Nigeria – Oando PLC (referred to as “Oando” or the “Company”) is pleased to announce that on
Thursday, July 15, 2021, the Company entered into a settlement with the Securities and Exchange
Commission (referred to as “SEC” or the “Commission”), of all matters subject of litigation and other issues
flowing therefrom.

Both parties believe that a settlement is the most appropriate course of action and one that is in the best
interest of the Company, its employees, shareholders as well as the capital market. Specifically, the
settlement reached by the parties seeks to prevent further market disruption and harm to Oando PLC’s
shareholders.

As a result, Oando’s directors and management team can now fully focus on business operations whilst
continuing to ensure that it is in compliance with all governing statutes. In the immediate, the Company will
be convening its 42nd Annual General Meeting (AGM) to give its shareholders the opportunity to exercise
their rights to receive information as well as vote on company affairs.

This has been an extraordinary time in the life of the Company and a defining moment in its relationship
with the regulator. The Company recognizes and respects the authority of the Commission and will continue
to comply with the Investments and Securities Act 2007, and the Rules and Regulations made pursuant
thereto, while always acting in the best interest of all its stakeholders.

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
19 July 2021


Sponsor: Sasfin Capital (a member of the Sasfin Group)

Date: 20-07-2021 07:05:00
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