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 firstname.lastname@example.org Alero Balogun Head, Corporate Communications The Wings Office Complex 17a Ozumba Mbadiwe Avenue Victoria Island, Lagos, Nigeria. Tel: +234 (1) 270400, ext. 6761 email@example.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 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.