| Thu 18 Feb 2010, 11:27 | | OAO - Oando Plc - Exchange control provisions applicable to South African |
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OAO
UNTP
OAO - Oando Plc - Exchange control provisions applicable to South African
shareholders
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")
The distribution of this announcement, the Rights Issue, and the transfer of the
Rights Issue shares and/or the rights to subscribe for the Rights Issue shares
in jurisdictions other than the Federal Republic of Nigeria or South Africa may
be restricted by law and failure to comply with any of those restrictions may
constitute a violation of the laws of any such jurisdiction. Neither this
announcement, nor any form of instruction, may be regarded as an offer in any
jurisdiction in which it is illegal to make such an offer, and in particular, is
not for distribution in the United States of America, Australia, United Kingdom,
Canada or Japan. In those circumstances, this announcement is for information
purposes only.
It is the responsibility of any person outside the Federal Republic of Nigeria
or South Africa (including, without limitation, nominees, agents and trustees
for such persons) receiving this announcement and wishing to take up rights
under the Rights Issue, to satisfy himself as to full observance of the
applicable laws of any relevant territory, including obtaining any requisite
governmental or other consents, observing any other requisite formalities and
paying any issue, transfer or other taxes due in such territories.
EXCHANGE CONTROL PROVISIONS APPLICABLE TO SOUTH AFRICAN SHAREHOLDERS
Further to the rights issue circular posted to Oando shareholders on Monday, 1
February 2010 and the various announcements released the latest being on
Tuesday, 17 February 2010, relating to the proposed rights issue of 301 694 876
ordinary shares of 50 kobo each at Naira 70.00 (ZAR 3.49) per share on the basis
of one (1) new ordinary share for every three (3) ordinary shares of 50 kobo
each held as at the close of business on Friday, 29 January 2010, being the
Friday prior to the offer opening date for South African shareholders ("the
Rights Issue"), Oando would like to draw attention to the following exchange
control provisions applicable to South African shareholders or their renouncees,
where applicable:
South African institutional investors may exercise their rights and/or apply for
excess shares in terms of the Rights Issue using their permissible foreign
portfolio investment allowances. South African institutional investors will be
given 12 months to realign their portfolios should they be in excess of their
exchange control foreign exposure limits;
South African corporates, banks, trusts, partnerships and private individuals
may exercise their rights and/or apply for excess shares in terms of the Rights
Issue without restriction; and
Emigrants are not permitted to trade in inward listed securities.
Johannesburg
18 February 2010
Leading Issuing House
Vetiva Capital Management Limited
Joint Issuing Houses
FCMB Capital Markets Limited
A member of First City Group
Stanbic IBTC Bank plc
A member of the Standard Bank Group
Sponsor to Oando in South Africa
Deutsche Securities (SA) (Proprietary) Limited
Date: 18/02/2010 11:27:02 Produced by the JSE SENS Department.
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