SEC Suspends Oando Plc AGM

From Left: Omamofe Boyo, Deputy Group Chief Executive, Oando PLC; Ayotola Jagun, Chief Compliance Officer and Company Secretary, Oando PLC; HRM Oba Michael A. Gbadebo, Chairman Board of Directors, Oando PLC; Wale Tinubu, Group Chief Executive, Oando PLC at Oando PLC’s successfully concluded 40th Annual General Meeting in Uyo, Awka-Ibom

June 10, 2019/SEC

The Securities & Exchange Commission (‘the Commission’) hereby notifies the public 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 & Anor V Securities & Exchange Commission & Anor, the Annual General Meeting of Oando Plc (a company listed on the Nigerian and Johannesburg Stock Exchanges) scheduled to hold on Tuesday, June 11, 2019 at 10: 00am has been suspended till further notice.

Accordingly, the Commission has directed the suspension of the Annual General Meeting of Oando Plc to allow the parties maintain status quo.

The Commission will update the public on the outcome of the ongoing litigation.

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