Stock & Analyst Updates | |
Stock & Analyst Updates | |
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Tuesday,
October 24, 2017 10.00pm / Press Release
Following the directive by the Securities and Exchange Commission of Nigeria,
that the Nigeria Stock Exchange should effect a full/technical suspension on
the trading of the shares of Oando; the company has obtained an ex-parte order
from the Federal High Court.
The Federal High
Court Injunction is to restrain the Nigeria Stock Exchange from carrying out
the technical suspension of Oando PLC shares, and also restrain SEC Nigeria
from also going ahead with the forensic audit on the operations of the company.
In a statement signed by Ayotola Jagun the Company Secretary, Oando PLC listed
why it was challenging the directive of SEC Nigeria.
Here are the full
details of the Oando PLC response to the SEC Nigeria directive.
On October 18, 2017 the SEC issued a
public notice stating amongst others that it had:
Related Oando / SEC Issue