Oando Completes First Tranche of Shares Distribution to Shareholders
Dual-listed indigenous energy company Oando Plc has announced the successful completion of tranche one of its share distribution programme to eligible shareholders, it said in a disclosure on the Nigerian Exchange.
At the annual general meeting held in December 2024, the company’s shareholders approved a settlement through the surrender of shares to the company, with subsequent pro rata distribution of some or all of these shares to existing shareholders.
Early in the year, its board of directors approved the Phase 1 distribution of 1,283,712,601 shares in two tranches. In a statement, Oando said tranche one distribution, comprising 679,364,206 shares to eligible shareholders on the Company’s Register of Members as of February 14, 2025, has now been fully concluded.
Oando revealed that the company issued one fully paid share for every twelve existing shares, following receipt of regulatory clearance in July 2025. Commenting on this distribution, Mr Wale Tinubu, CON, the Group Chief Executive of Oando PLC, said, “This initiative underscores our unwavering commitment to delivering tangible value to our shareholders.
“By issuing one fully paid share for every twelve existing shares, with no dilution, we have effectively delivered an 8.3% yield at today’s market price, thus aligning shareholders’ interests with our long-term growth ambitions.”
The timing for Tranche Two of the Share Distribution Programme, applicable to shareholders on the Register of Members as of June 30, 2025, will be announced at a later date, as determined by the Board of Directors.
The company said shareholders yet to receive their allocation are encouraged to contact the registrars promptly to regularise their details and facilitate settlement. #Oando Completes First Tranche of Shares Distribution to Shareholders Most Ghanaian Banks to Be Capital-Compliant When Forbearance Ends –Fitch
