| Wed 7 Apr 2010, 16:27 | | OAO - Oando PLC - Delay in rights issue timetable |
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OAO
UNTP
OAO - Oando PLC - Delay in rights issue timetable
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.
DELAY IN RIGHTS ISSUE TIMETABLE
Shareholders of Oando on the South African register ("South African
Shareholders") are referred to the declaration data announcement released on
SENS on Tuesday, 19 January 2010, the rights issue circular posted to South
African Shareholders on Monday, 1 February 2010 and the announcement released on
SENS on Wednesday, 17 February 2010 relating to the proposed rights issue of 301
694 876 Oando ordinary shares of 50 kobo each at Naira 70.00 (ZAR 3.49) per
Oando ordinary share ("the Rights Issue Shares") on the basis of one (1) new
Oando ordinary share for every three (3) Oando 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").
South African Shareholders are advised that due to a delay in obtaining the
necessary regulatory approvals from the Nigerian SEC, the dates relating to the
Rights Issue are no longer applicable.
The revised timetable for the Rights Issue is set out below:
2010
Nigerian SEC approval to be received for the Friday, 23 April
allotment of the Rights Issue Shares and the
excess shares on
Results of the Rights Issue released on SENS Wednesday, 28 April
Funds in respect of the excess applications Wednesday, 28 April
or rejected applications refunded to South
African Shareholders on
Results of the Rights Issue published in the Thursday, 29 April
South African press
Listing of the Rights Issue Shares and Friday, 14 May
trading of the Rights Issue Shares on the JSE
commences at 09:00 on
Rights Issue Shares will be issued on Friday, 14 May
Notes:
1. It is expected that the Rights Issue Shares and the excess shares will be
allotted on Monday, 26 April 2010 following the approval of the allotment by
the Nigerian SEC on Friday, 23 April 2010.
2. Investors are not permitted to trade the new Rights Issue Shares until the
Rights Issues Shares have been listed and issued on Friday, 14 May 2010.
3. All times referred to in the above timetable are local times in South
Africa. Any material variation to the above dates and times will be
approved by the JSE, released on SENS and published in the South African
press.
For more information please contact:
Yemisi Deji- Bejide
Vetiva Capital Management Limited
Tel: +234-1-4617521-3
Johannesburg
7 April 2010
Leading Issuing House
Vetiva Capital Management Limited
Joint Issuing Houses
FCMB Capital Markets Limited Stanbic IBTC Bank plc
A member of First City Group A member of the Standard Bank Group
Sponsor to Oando in South Africa
Deutsche Securities (SA) (Proprietary) Limited
Date: 07/04/2010 16:27:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
