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OAO
UNTP
Oando Plc - Results Of The 29th Annual General Meeting
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 Limited: OAO ISIN Code: NG00000UNTP0
Share code on the Nigerian Stock Exchange: UNTP
("Oando" or "the Company")
RESULTS OF THE 29th ANNUAL GENERAL MEETING
Shareholders are advised that all of the ordinary resolutions proposed in the
notice to shareholders incorporated in the Notice to Shareholders, were
unanimously passed at the annual general meeting of the Company held at 10:00 on
Tuesday, 30 May 2006, as follows:
Dividend payment
The shareholders approved the dividend payment of 250k (Two Hundred and Fifty
Kobo) per share payable to holders of ordinary shares registered at the close of
business on the 5th day of May 2006. The dividend shall be paid to those
shareholders whose names appear in the Company"s Nigerian Register of members at
the close of business on 5 May 2006 on Thursday 1 June 2006; and to shareholders
on the South African register of members who held shares at the close of
business on 5 May 2006 on 5 June 2006, subject to withholding tax.
Election of members of the audit committee
The following persons were elected as the members of the Audit Committee for the
2006 Accounts:
Prince F.N. Atako
Alhaji Ibrahim Bagudu
Chief Awa Okpan
Otunba Olatunde Olowu
Mr. Ike Osakwe
Mr. Osaze Osifo
Fixing of Auditors" remuneration
The directors were authorized to fix the auditor"s remuneration.
Election of His Royal Majesty Oba M.A. Gbadebo as Director
His Royal Majesty Oba M.A. Gbadebo, was elected as a Director of the company.
Re-election of Directors
The following directors were re-elected as Directors of the Company:
Mr. Ademola Akinrele SAN
Mr. Onajite Okoloko
Mr. Ike Osakwe
Approval of the remuneration of non-executive directors
The remuneration of the non-executive directors of the company was increased
from Naira 450,000.00 per annum to Naira 600,000.00 per annum for the Chairman
and from Naira 400,000.00 per annum each to Naira 550,000.00 per annum each for
the other non-executive directors.
Johannesburg
31 May 2006
Sponsor
Deutsche Securities (SA) (Proprietary) Limited
Date: 31/05/2006 04:14:05 PM Produced by the JSE SENS Department
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