Friday, March 2, 2018 /8:35 AM /NSE
This is to inform our valued shareholders and key stakeholders that there will be a delay in the release of Oando PLC’s (the Company) financial results for the twelve months ended December 31, 2017.
The Financial Reporting Council of Nigeria (FRCN) has indicated interest in undertaking a more detailed review of the Company’s Audited Financial Statements (AFS) as part of their statutory review due to the issues raised by the recent investigation of the Company by the Securities and Exchange Commission (SEC).
We envisage that the FRCN’s review might take longer than originally anticipated. Therefore, the Company may not be able to file the accounts until the second week in May, the exact date of filing will be dependent on the turnaround time at the FRCN.
Oando PLC apologizes for any inconvenience caused and will update the market in due course.