| Thu 22 Apr 2010, 9:00 | | OAO - Oando PLC - Results of the Rights Issue of 301 694 876 Ordinary Shares of |
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OAO
UNTP
OAO - Oando PLC - Results of the Rights Issue of 301,694,876 Ordinary Shares of
50 Kobo each at Naira 70.00 per share
Oando PLC
(Incorporated in Nigeria and registered as an external company in South Africa)
Registration number: RC6474
(External company registration number: 2005/038824/10)
Share code on the JSE: OAO
Share code on the Nigerian Stock Exchange: UNTP
ISIN: NGOANDO00002
Results of the Rights Issue of 301,694,876 Ordinary Shares of 50 Kobo each at
Naira 70.00 per share
1. With respect to the Rights Circular dated Monday, 18 January 2010 in
respect of the Nigerian shareholders and the Rights Circular dated Monday,
1 February 2010 in respect of the South African shareholders, a total of
25,877 applications for 386,759,796 ordinary shares were received in
connection with the Rights Issue.
2. All 25,877 applications were found to be valid under the terms of the
Rights Issue and were accepted and processed accordingly. The Rights Issue
was therefore 128.20% subscribed.
3. 25,296 shareholders accepted their rights in full totaling 52,815,666
ordinary shares and these were allotted.
4. 197 applications for 96,130,781 ordinary shares were received in respect of
rights traded on the Floor of The Nigerian Stock Exchange and were
allotted.
5. 384 shareholders with provisional allotment of 16,680,593 ordinary shares
partially accepted their rights totaling 11,454,808 ordinary shares and
were allotted; leaving a balance of 5,225,785 ordinary shares partially
renounced.
6. A total of 136,047,836 ordinary shares were fully renounced bringing the
total number of shares renounced to 141,23,621 ordinary shares.
7. Out of the shareholders that accepted their rights in full, 11,442
shareholders applied for additional 226,358,541 ordinary shares and were
allotted the 141,293,621 renounced ordinary shares. The breakdown of the
additional shares allotted is as follows:
Range No. of Units Units % Allotment
Holders
1 - 1,000 9,901 2,571,135 1.14% 62.42027%
1,001 - 5,000 1,233 2,880,200 1.27% 62.42027%
5,001 - 10,000 177 1,385,294 0.61% 62.42027%
10,001 - 50,000 101 1,933,505 0.85% 62.42027%
50,001 - 100,000 10 777,546 0.34% 62.42027%
100,001 - 500,000 12 2,679,026 1.18% 62.42027%
500,001 - 1,000,000 1 1,000,000 0.44% 62.42027%
1,000,001 - 5,000,000 5 9,872,351 4.36% 62.42027%
5,000,001 - 10,000,000 1 6,840,000 3.02% 62.42027%
10,000,001 - 200,000,000 1 196,419,484 86.77% 62.42027%
Grand Total 11,442 226,358,541 100.00%
Range Units Allotted Units Cum.
1 - 1,000 1,604,910 1,604,910
1,001 - 5,000 1,797,829 3,402,739
5,001 - 10,000 864,705 4,267,444
10,001 - 50,000 1,206,900 5,474,344
50,001 - 100,000 485,347 5,959,691
100,001 - 500,000 1,672,255 7,631,946
500,001 - 1,000,000 624,202 8,256,148
1,000,001 - 5,000,000 6,162,348 14,418,496
5,000,001 - 10,000,000 4,269,546 18,688,042
10,000,001 - 200,000,000 122,605,579 141,293,621
Grand Total 141,293,621
The above stated basis of allotment as well as this announcement has been
cleared by the Securities & Exchange Commission ("SEC"). The Cheques for the
surplus application monies amounting to sums below Naira10Million will be
dispatched through registered post to the affected applicants by the registrar
to the Offer, First Registrars Nigeria Limited ("First Registrars") not later
than Thursday, 22 April 2010. Sums above Naira10Million will be transferred via
electronic transfer ("RTGS") into the bank accounts (indicated in the Acceptance
forms) of the respective shareholders. The shares allotted will be credited to
the Central Securities Clearing System (CSCS) account of allottees by First
Registrars not later than Friday, 07 May 2010. Allottees without CSCS accounts
will have their physical certificates sent by registered post not later than
Friday, 07 May 2010.
For shareholders in South Africa, return monies will be dispatched to
shareholders from the designated escrow account on Monday, 26 April 2010.
Allotment of shares to South African shareholders will be issued and distributed
through Computershare Investor Services (Pty) Limited in accordance with the
relevant laws and practices of the Republic of South Africa. The rights issue
shares will be listed on the JSE on Wednesday, 28 April 2010. The rights issue
shares and the excess shares allocated will be issued to South African
shareholders on Wednesday, 28 April 2010. Transfers between the Nigerian and
South African registers will be restricted for the period between Wednesday 28
April 2010 and Friday 28 May, 2010. Should there be a change in such
restriction period, shareholders will be notified on SENS accordingly.
Johannesburg
22 April 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: 22/04/2010 09:00:01 Produced by the JSE SENS Department.
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