• Friday, April 12, 2024
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BusinessDay

Oando shares suspended from trading on Johannesburg Stock Exchange

Oando wins top ESG award in Africa

Oando Plc, Nigeria’s leading indigenous energy group listed on both the Nigerian Exchange Limited (NGX) and Johannesburg Stock Exchange (JSE Limited), has notified the public and its shareholders that it received a letter on March 27, 2024 from the JSE suspending the secondary listing of its securities.

This is due to inability to meet the extended deadline to publish its 2022 audited year-end results (the “2022 Accounts”) and the interim results for 2023.

Read also: NNPC pays N140.55bn for Oando-branded retail stations, jetty, others

The Company had earlier unsuccessfully appealed to the JSE seeking a further extension of time within which to file the relevant accounts and requesting that it hold off its communicated intention to suspend Oando’s listing on the Exchange.

Consequently, investors cannot trade the shares of the company during this period on the JSE Limited.

Oando said the 2022 Accounts are scheduled to be approved by the Board of Oando Plc on
or before April 15 2024 and will thereafter be sent to the Financial Reporting Council of Nigeria for regulatory approval prior to its release to the market.

The interim results for 2023 will also be released to the market soon after the 2022 Accounts are published.