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Friday, July 14, 2017 5:38 PM/NSE
Our
attention has been drawn to a report released by Channels TV on Friday the 14th
day of July, 2017 stating that Oando PLC (“the Company” or “Oando”) is “…under
a comprehensive investigation by the Securities and Exchange
Commission…..following petitions filed by some foreign investors in Oando
Nigeria PLC, in relation (sic) shareholding structure following the 1.65 billion
Dollars cash that Oando paid in June 2014 to acquire the oil production assets
of Conoco-Phillips in Nigeria…”.
The
Company understands that the SEC is in receipt of correspondence containing (in
our opinion) unsubstantiated, misleading and defamatory claims with respect to
various matters that had already received board, shareholder and where required
SEC approval.
The
Company is fully co-operating with the SEC in the discharge of its duties as
the capital markets regulator by providing all appropriate clarifications and
rebuttals on the matters raised in the said correspondence. Oando will be happy
to provide full disclosure of the outcome as soon as the SEC review is
completed.
Oando's
corporate communications team is always available to respond to any enquiries
by members of the public and media.
The
Company is concerned about media houses going public with information without
first obtaining a balanced view as this may in some cases lead to the
publication of unconfirmed, misleading and damaging information.
Oando
is a public listed company quoted on both the Nigerian and Johannesburg Stock
Exchanges and any damaging information in the public domain could have a
material impact on the Company.
We
therefore demand an immediate retraction of the report and urge media houses to
refrain and/or desist from further publications in future, without first
verifying the accuracy of such facts from Oando.
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OANDO
Plc Announces Closed Period
3.
Oando
Provides Clarifications on its Refinery Ambitions
4.
OANDO Declares
N1.71bn Profit in Q1 2017 Results,(SP:N5.80k)
5.
OANDO Plc
Announces Closed Period
6.
OANDO Declares
N3.49bn Profit for the year 2016,(SP:N4.94k)
7. OANDO Plc
Announces a Delay to the Publishing of Year Ended 31 December 2016 Results
8.
Oando Plc - Some
Improvement in Q3’16 Financials
9.
Oando Plc Posts
N330 Billion Top Line Revenue in YTD September 2016 Results
10.
OANDO Declares
N54.35bn Loss in Q3'16 Results,(SP:N5.20k)
11.
Oando Plc Announces H1 2016 Results Posts
N212 Billion Top Line Revenue
12.
OANDO Declares
N44.57bn Loss in Q2'16 Results,(SP:N5.07k)
14.
Oando Plc Key Highlights on Q4 15 and
Q1 16
15. OANDO Concludes Recapitalization
Partial Divestment of Equity Stake in Its Downstream Operations
16. Material
Uncertainty May Cast Doubt on Oando’s Ability to Continue as a Going Concern –
Ernst & Young
17.
OANDO Releases Q4 15 and Q1 16
Results Declares N4.10bn PAT in Q1 SP N6.50k
18.
Oando Plc Secures 5 Year N94.6
Billion Medium Term Facility with 10 Nigerian Banks