SEC Suspension: We’ll State Our Position Soon, Says Oando Plc
The management of Oando Plc, on Wednesday said it is reviewing the directive by Nigeria’s Securities & Exchange Commission (SEC), based on which the Nigerian Stock Exchange (NSE) placed its shares on suspension earlier that day. A statement signed by the SEC management, said the decision followed a comprehensive review of the two petitions by Alhaji Dahiru Barau Mangal and Ansbury Incorporated which initially sought to stop the company’s annual general meeting (AGM) in Uyo, for which a waiver was given. However, in a statement signed by Ayotola Jagun, its Chief Compliance Officer & Company Secretary, Oando Plc while expressing commitment to acting in the best interests of all its shareholders, said it “is currently reviewing subsequent correspondence received today October 18, 2017 from the NSE and SEC and will provide a full statement of the Company’s position as soon as possible.” The review showed among others, that Oando, which is also listed on the JSE Stock Exch...