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Friday, June 14, 2019 / 09:40AM / NSE Press
Release
Federal High Court of Lagos Adjourns Hearing Between Oando PLC’s Group Chief Executive and Deputy Group Chief Executive and the Securities & Exchange Commission.
On Thursday, June 13, 2019 the Federal High Court of Lagos under presiding Judge C M A Olatoregun the case between Oando PLC’s (referred to as “Oando” or the “Company”) Group Chief Executive, Adewale Tinubu, and Deputy Group Chief Executive, Omamofe Boyo, and the Securities and Exchange Commission (SEC) came up for hearing.
The Court directed that the Respondents’ Preliminary Objection and the substantive application for enforcement of fundamental Rights should be taken together at the next adjourned date. Consequently, the Court adjourned to 24th June, 2019. The Court ruled that all parties involved are to maintain the status quo pending the determination of the Motion.
The Company, in its press release dated 3rd June 2019,
reported that the court had granted the following orders pending the hearing
and determination of the applicant’s motion for interlocutory injunction:
Visit Oando Plc IR Page in Proshare MARKETS
Graph 1: Oando Plc – One Year Share Price Movement
Table: Unaudited Q1 2019 Results
Related News on SEC Investigation Report
1.
Oando PLC’s Official Response
To SEC’s Suspension Of Its 42nd AGM – Jun 11, 2019
2.
SEC
Suspends OANDO’s Prior Approved AGM Scheduled To hold on June 11, 2019
– Jun 10, 2019
3.
Oando
Update: SEC Aligns Principle Of Fair Hearing With Cooperation During
Investigations – Jun 09, 2019
4.
One
Week After: OANDO Shares Dropped By -4.76% WoW, -20% YTD – Jun 07, 2019
5.
Chief Sena
Anthony and Mr. Oghogho Akpata Resign From OANDO’s Board Effective June 3rd,
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6. Oando
Share Price Drops 20% Off The Back Of SEC Investor Protection Moves – Jun 03, 2019
7.
NSE
Release: Oando Plc Warns Against Unofficial Company News Circulating In The
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2019
8.
SEC
Appoints Interim Management Team For Oando Plc Headed By Mr. Mutiu Olaniyi Adio
Sunmonu – Jun 03,
2019
9.
Post-Forensic
Exchanges: The SEC Letter to Oando Plc and The Oando Rebuttal - Jun 02, 2019
10.
Oando Challenges
SEC’s Ruling On The Outcome Of The Forensic Audit Into Oando PLC –
May 31, 2019
11.
SEC Announces
Far Reaching Decisions On The Investigation Of Oando Plc – May 31, 2019
Proshare Reports - Oando Investigation
1. Memo to The Market: The Oando Corporate Journey – At the Regulators Gate – Nov 22, 2017
2. Download Full (PDF) Report - Memo to The Market: The Oando Corporate Journey – At The Regulators Gate – Dec 2017
3. Review of the SEC Technical Committee Recommendations, Opinion and Final Report – Dec 08, 2017
Quick Recall of Past Market Memorandum(s)
4. Beyond The Noise: MTN’s Post Listing Reactions, Gaps in Rules and Lessons Learnt – May 25, 2019
5. PDF Report - JUMIA IPO and Q1 2019 Result – May 16, 2019
6. Surviving Uncertain Times in the Nigerian Financial Market – Jan 19, 2019
7. Memo To The Market – The NSE, Oscar Onyema Foundation And Corporate Governance – Aug 20, 2018
8. The Bull in the China Shop – A New Paradigm in the Banking Sector (analysis of the SLS Intervention) ... - Proshare Aug 21, 2009
9. Fundamental Considerations for Capital Market Reforms in Nigeria ... - Proshare Sept 06, 2010
10. Memo to the Market: Reappointing Arunma Oteh as DG, SEC - Proshare Dec 31, 2014
11. Where Nigeria got it Wrong - Proshare Dec 01, 2014
12. Leadership, Change and Corporate Transformation – The Nigerian Experience ... - Proshare Nov 07, 2017
13. The Proshare Transcorp White Paper - 2007 – Jan 14, 2007
14. Corporate Governance Rating System (CGRS)
15. Facts Behind the Figures (FYE 2016 & Q1 2017 Performance Review)
16. Oando Plc Half Year Update Call (FYE 2015 & Q1 2016 Performance Review)
17. NSE X- Compliance Report February 21, 2014
18. NSE X- Compliance Report August 7, 2015
19. NSE X- Compliance Report May 2019
Related News on Oando
20. Oando Optimises Value From Midstream Business – Apr 26, 2019
21. OANDO Declares N4.63bn PAT in Q1'19 Results (SP:N4.85k) – Apr 25, 2019
22. Oando PLC Announces Divestment of its Residual 25% Interest in Axxela Limited – Apr 04, 2019
23. Oando’s Plan to Deleverage and Remain Profitable – Apr 04, 2019
24. Axxela Now 100 Percent Owned by Helios – Apr 04, 2019
25. Oando Plc Announces FYE 2018 Results, Posts N28.8 Billion Profit-After-Tax – Apr 02, 2019
26. OANDO Declares N28.79bn PAT in 2018 Audited Results (SP:N5.65k) – Apr 01, 2019
27. Oando PLC, Canadian Government and Accountability Lab Champion the SDG 16 Innovation Challenge 2019 – Mar 26, 2019
28. OANDO Declares N28.79bn PAT in 2018 Audited Results (SP:N5.65k) – Mar 15, 2019
29. Oando Female Engineers Mentor Female Pupils in Celebration of International Day of Women in Science – Mar 08, 2019
30. Oando Employees Donate Relief Materials to Flood Victims in the Niger Delta – Jan 31, 2019
31. Oando, NAPIMS and NAOC JV Celebrate Green River Project and 22nd Annual Farmers Day – Dec 03, 2018
32. NNPC, NCDMB, Oando, Seplat And Many More Push The Nigerian Agenda At The 25th Africa Oil Week – Nov 12, 2018
33. Oando PLC, Nestle Nigeria, Union Bank and others lead conversations on Heritage Branding – Nov 01, 2018
34. OANDO Declares N10.39bn PAT in Q3 2018 Results (SP:N5.05k) – Oct 31, 2019
35. Oando Plc Eyes Growth After Curbing $2.5 Billion Debt – Aug 28, 2018
36. Oando Plc Successfully Concludes 41st Annual General Meeting - Jul 28, 2018
37. Oando Plc Sets the Record Straight Regarding the LCIA’s Ruling on Whitmore, OODP BVI and Ansbury – Jul 16, 2018
38. Oando Plc Awarded EPC Mandate to Develop Ajaokuta-Kaduna-Kano Gas Pipeline Project by the NNPC – Apr 19, 2018
39. Oando PLC Announces YTD September 2017 Results; Gives Operational Highlights
40. Oando Plc state Positions on the Securities and Exchange Commission Alleged Findings
41. Oando Secures Court Injunction, restraining SEC, NSE
42. Oando Shares Now Available for Trading, No Price Movement During Technical Suspension
43. JSE Follows NSE, Suspends Trading in the Shares of Oando Plc
44. Oando Gives Holding Response on SEC’s Directive to NSE to Suspend Trading of Its Shares
45. Oando PLC’s Official Statement on the SEC’s Directive to The NSE to Suspend Trading of Its Shares
46. NSE, SEC Confirm Decision To Suspend Trading On The Shares of Oando Plc
47. Trading on the Shares of Oando Plc Suspended; Reasons Unknown
48. Oando Gas & Power Rebrands as Axxela
49. House of Reps gives SEC Two weeks to submit Report on Oando PLC
50. Oando Plc. - AGM Resolution
51. Oando Plc holds 40th AGM, engages Shareholders on the Progress of its Restructuring Plan
52. Oando Plc's 40th AGM To Hold As Planned Following SEC Confirmation
53. Oando Plc to Hold 40th AGM on Sept 11, 2017
54. Oando Plc Issues an Update on Claims of a SEC Investigation
55. OANDO Declares N4.56bn Profit in Q2 2017 Results,(SP:N7.80k)
56. Oando Issues Press Release over SEC Investigation
57. Corporate Earnings for the Week Ending 140717 – UCAP declares N1.99 billion Profit in Q2'17 Results
58. SEC Investigating Oando Plc
59. OANDO Plc Announces Closed Period
60. Oando Provides Clarifications on its Refinery Ambitions
61. OANDO Declares N1.71bn Profit in Q1 2017 Results,(SP:N5.80k)
62. OANDO Plc Announces Closed Period
63. Oando Plc to Hold 2016 AGM on Tuesday 2nd August
64. Oando Plc Key Highlights on Q4 15 and Q1 16
65. OANDO Concludes Recapitalization Partial Divestment of Equity Stake in Its Downstream Operations
67. OANDO Releases Q4 15 and Q1 16 Results Declares N4.10bn PAT in Q1 SP N6.50k
68. Oando Plc Secures 5 Year N94.6 Billion Medium Term Facility with 10 Nigerian Banks
69. Oando explains what Deregulation of Petrol Price means for its Downstream Operations
70. OANDO to acquire OER Minority Shares for a Consideration of US 1.20 per share in Cash
71. The Corporate Governance Rating System – Proshare
72. ETI, Oando Plc under Fire over Ownership, Governance
Related News on SEC Laws and Corporate Governance
73. NSE Notifies Of The Effective Dates Of Its Rules On Listing On The Growth Board, Free Float – May 22, 2019
74. NSE Notifies of SEC Approval of Rules of The Exchange – May 13, 2019
75.The FRCN Nigerian Code of Corporate Governance 2018 – Jan 18, 2019
76. The-Market-Memorandum---Fundamental-Considerations-for-Capital-Market-Reforms-in-Nigeria/2910
77. Corporate Governance and Directors' Remuneration
78. SEC Proposes New Rules & Amendments to Rules on Book Building, Corporate Governance
79. Good Corporate Governance is Good Business
80.SEC, Udo Udoma And Corporate Governance: The Fact Files
81.Enabling Law – Investment and Securities Act (ISA) 2007
82. SEC Nigeria’s Executed Rules and Regulations as at June 2017
83. SEC Nigeria’s Consolidated Rules and Regulations as at 2013
84. Code of Corporate Governance for Public Companies_4 April 2011
Related News on Oando from Other Sources
85. N236bn Liability: Oando Shareholders Protest in Ibadan – Independent
86. Intel’s Volpi Steps Up Battle Against Wale Tinubu over Control of Oando - ThisDay
87. Suspension of OANDO PLC – SEC
88.Oando Shareholders Set To Sack Wale Tinubu, Board – Independent
89. Notice to the General Public on Oando Plc – SEC
90. So what’s happening at Oando (2)? – Business Day
91. So what’s happening at Oando (1)? – Business Day
92. The inside story: Why SEC ordered a Forensic audit of Oando Plc – Business Day
93. Corporate Stories: Under siege, the battle for Oando - Nairametrics
94. Oando and IAS 24: What the law cannot do by @Doubleeph - Nairametrics
Acknowledgement/Research Links
95. Securities and Exchange Commission, Nigeria
96. The Nigerian Stock Exchange
97. Oando Plc
98. Convention for Business Integrity
99. Vetiva Capital Management Ltd
100. Oando’s Investors Relation Page - TheAnalyst
101. Oando Plc Audited Financial Statements – 2012
102. Oando Plc Audited Financial Statements - 2013
103. Oando Plc Audited Financial Statements - 2014
104. Oando Plc Audited Financial Statements - 2015
105. Oando Plc Audited Financial Statements - 2016
106. Oando Plc Audited Financial Statements – 2017
107. Oando Plc Audited Financial Statements – 2018