OANDO PLC - Announcement of the Outcome of the Meeting of the Board of Directors of Oando Plc

Announcement of the Outcome of the Meeting of the Board of Directors of Oando Plc

Oando PLC
(Incorporated in Nigeria and registered as an external company in
South Africa)
Registration number: RC 6474
(External company registration number 2005/038824/10)
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
("Oando" or the "Company")

February 5, 2025

ANNOUNCEMENT OF THE OUTCOME OF THE MEETING OF THE BOARD OF DIRECTORS
OF OANDO PLC

At the 45th Annual General Meeting (AGM) on Tuesday, December 17, 2024, Oando Plc's (the
Company) shareholders approved that "the Company may cause shares received pursuant to
sub-resolution (b) above, and/or their cash equivalent to be distributed to shareholders of
record at date(s) as may be determined by the Board of Directors, from time to time, on a
pro-rata basis."

Pursuant to the above shareholder resolution, the Nigerian Exchange Limited and the investing
public are hereby notified that on January 30, 2025, the Board of Directors resolved to cause the
distribution of the Company's shares, made available under the 45th AGM resolution, in phases.
The approved terms are as follows:

 Oando PLC's Total Number of Issued Shares                                         12,431,412,481
 Total Number of returned shares                                                    4,279,042,282
 Total Number of Issued Shares less returned Shares                                 8,152,370,477

 Number of Shares to be distributed (in first phase)                                1,283,712,601
 Tranche 1                                                                            641,856,301
 Tranche 2                                                                            641,856,300

Qualification Date

The first phase distribution will apply to shareholders on the Company's register of members at the
close of business on February 14, 2025 for tranche 1 and June 30, 2025 for tranche 2.

The distribution for tranche 1 shall be applied on the basis of one (1) new ordinary share of 50
kobo each for every twelve (12) existing ordinary shares of 50 kobo each held by members as at
the tranche 1 Qualification Date.

All shares that are caused to be distributed pursuant to the said AGM resolution shall be distributed
within a period of 36 months commencing 30th January, 2025.

Ends.

For further information, please contact:

Ayotola Jagun
Company Secretary
The Wings Office Complex
17a Ozumba Mbadiwe Avenue
Victoria Island, Lagos, Nigeria
Tel: +234 (1) 270400, Ext 6159
ajagun@oandoplc.com

Adeola Ogunsemi
Group Chief Financial
Officer
The Wings Office
Complex 17a Ozumba
Mbadiwe Avenue
Victoria Island,
Lagos, Nigeria.
Tel: +234 (1) 270400, Ext 6506
aogunsemi@oandoplc.com


For: Oando PLC

Ayotola Jagun (Ms.)
Chief Compliance Officer and Company Secretary


JSE Sponsor to Oando
Questco Corporate Advisory Proprietary Limited

Date: 05-02-2025 02:35:00
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