Oando Shareholders To Get Tranche 2 Share Distribution BY March 30

Oando Plc has said its shareholders would receive the second tranche of share distribution, as the company completes the second phase of its share distribution programme by March 30, 2026.

Recall that at the 45th Annual General Meeting (AGM) of Oando held on December 17, 2024, shareholders approved that the Company may distribute shares received to shareholders of record on such date(s) as the Board of Directors may determine from time to time, on a pro-rata basis.

Oando in a statement on the Nigerian Exchange said, “pursuant to this shareholder resolution, the Company notified the Exchange and the investing public on February 5, 2025 that the board of directors on January 30, 2025, resolved to implement the distribution of the Company’s shares made available under the 45th AGM resolution in phases.

“The Company further committed to ensuring that all shares to be distributed pursuant to the AGM resolution would be distributed within 36 months commencing on January 30, 2025.”

It added that “the Company resolved that the first phase of the distribution would apply to shareholders on the Company’s register of members at the close of business on February 14, 2025 (Tranche 1) and on June 30, 2025 (Tranche 2).

“Following the completion of the Tranche 1 distribution in August 2025, and in furtherance of the above shareholder resolution, the Nigerian Exchange and the investing public are notified that on February 10, 2026, the board of directors of the Company resolved to proceed with the Tranche 2 distribution of the remaining 604.348 million ordinary shares under the first phase.

“The distribution will be made to shareholders on the register of members as at the Tranche 2 qualification date of June 30, 2025, on a pro-rata basis of two new ordinary shares for every 27 existing ordinary shares. The Tranche 2 distribution is expected to be completed on or before March 31, 2026.”