Oando PLC
(Incorporated in Nigeria and registered as an external company in South Africa)
External Registration number: RC 6474
Company registration number: 2005/038824/10
Share Code on the JSE Limited: OAO
Share Code on the Nigerian Stock Exchange: OANDO
ISIN: NGOANDO00002
(“Oando” or the “Company”)
South African shareholders of Oando are referred to the announcements published on the Stock Exchange News Service of the JSE Limited (“SENS”) on Tuesday, 2 December 2014 and Wednesday, 21 January 2015 (“Announcements”). The Announcements set out information regarding:
- the rights issue of 2,217,265,184 ordinary shares of 50 kobo each at NGN22.00 (ZAR1.3138) per rights issue share on the basis of one (1) new ordinary share for every four (4) ordinary shares of 50 kobo each held as at the close of business on Friday, 25 July 2014, for those shareholders in Nigeria whose names appeared on the Register of Members and transfer books of the Company, and shareholders in South Africa whose names appeared on the Register of Members and transfer books as at the close of business on Friday, 19 December 2014, which was the business day prior to the rights issue opening date of Monday, 22 December 2014, for South African shareholders (“Initial Rights Issue“); and
- the extension of the Initial Rights Issue in Nigeria until Wednesday, 28 January 2015. For the avoidance of doubt, the Initial Rights Issue closed at 12h00 on Friday, 9 January 2015, in South Africa and was not similarly extended).
In order to better align the terms of the Initial Rights Issue with current market conditions, given the 28% fall in the NSE All Share Index during the three months preceding this announcement, the terms of the Initial Rights Issue have been amended to the issue of 2,956,353,579 ordinary shares of 50 kobo each at an issue price of ₦16.50 per share (ZAR 0.9853 using the currency conversion rate of ZAR1=NGN16.7456 as at 17h00 South African time on Monday, 1 December 2014), on the basis of one (1) ordinary share for every 3 (three) ordinary shares held (“the Amended Rights Issue”). The requisite regulatory approval for the Amended Rights Issue has been obtained from the Nigerian Securities & Exchange Commission (“NSEC”) and shareholders recorded on the Nigerian share register have been notified of this amendment.
As the Initial Rights Issue closed on Friday, 9 January 2015 in South Africa, the JSE Issuer Regulation Division has been approached with regard to shareholders recorded on the Company’s South African share register who were entitled to participate in the Initial Rights Issue, to ascertain whether the terms of the Amended Rights Issue can be applied to such Shareholders. Shareholders will be advised in due course regarding the action, if any, to be taken with regard to the Amended Rights Issue.
27 January 2015
Sandton
JSE sponsor
Sasfin Capital (a division of Sasfin Bank Limited)
Leading Issuing House
Vetiva Capital Management Limited
Joint Issuing Houses
FBN Capital Limited
FCMB Capital Markets Limited
Marina Securities Limited
Stanbic IBTC Capital Limited
Zenith Capital Limited