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Friday, Could 31, 2019 / 09:05PM / By Oando
Plc / Header Picture Credit score: Oando
Our consideration has been drawn to a press launch revealed by the Securities and Alternate Fee
(SEC) on Friday, Could 31, 2019 “Press Launch on “Investigation of Oando PLC”.
Within the assertion, the Fee confirms the
conclusion of its investigations and that the findings from the report reveal
severe infractions by the Firm and as a part of measures to handle these
violations, the Fee has directed penalties as follows:
1.
Resignation
of the affected Board members of Oando Plc,
2.
The
convening of an Additional-Peculiar Common Assembly on or earlier than July 1, 2019, to
appoint new administrators,
3.
Cost of
financial penalties by the corporate and affected people and administrators,
4.
Refund of
improperly disbursed remuneration by the affected Board members to the corporate,
5.
Bar of the
Group Chief Govt Officer (GCEO) and the Deputy Group Chief Govt
Officer (DGCEO) of Oando Plc from being administrators of public corporations for a
interval of 5 (5) years.
Oando is of the view that these alleged infractions
and penalties are unsubstantiated, extremely vires, invalid and calculated to
prejudice the enterprise of the Firm.
The Firm has not been given the chance to
see, evaluation and reply to the forensic audit report and so is unable to
confirm what findings (if any) have been made in relation to the alleged
infractions and defend itself accordingly earlier than the SEC.
The Firm reserves its rights to take all authorized steps to guard its
enterprise and belongings while remaining dedicated to behave in the most effective pursuits of
all its shareholders.
The SEC Launch
SEC Declares Far Reaching
Selections On The Investigation Of Oando Plc
Proshare Experiences – Oando Investigation
1. Obtain
Full (PDF) Report – Memo to The Market: The Oando Company Journey – At
The Regulators Gate
2. Obtain
(PDF) Report – SEC Technical Committee on Oando Plc 2017 (Dec 04, 2017)
3. Assessment
of the SEC Technical Committee Suggestions, Opinion and Last Report
Fast Recall of Previous Market Memorandum(s)
1.
Past
The Noise: MTN’s Submit Itemizing Reactions, Gaps in Guidelines and Classes Learnt
– Could 25, 2019
2.
The Bull within the
China Store – A New Paradigm within the Banking Sector (evaluation of the SLS
Intervention) … – Proshare Aug 21, 2009
3.
Elementary
Concerns for Capital Market Reforms in Nigeria … – Proshare Sept 06, 2010
4.
Memo to the
Market: Reappointing Arunma Oteh as DG, SEC – Proshare Dec 31, 2014
5.
The place Nigeria
bought it Incorrect – Proshare Dec
01, 2014
6.
Management,
Change and Company Transformation – The Nigerian Expertise … – Proshare Nov 07, 2017
Record of Appendix
1. Company
Governance Ranking System (CGRS)
2. Details Behind the
Figures (FYE 2016 & Q1 2017 Efficiency Assessment)
3. Oando Plc Half
12 months Replace Name (FYE 2015 & Q1 2016 Efficiency Assessment)
4. NSE X-Compliance
Report February 21, 2014
5. NSE X-Compliance
Report August 7, 2015
Associated Information on Oando
1. Memo
to The Market: The Oando Company Journey – At The Regulators Gate
2.
Oando PLC
Declares YTD September 2017 Outcomes; Provides Operational Highlights
3.
Oando Plc state
Positions on the Securities and Alternate Fee Alleged Findings
4.
Oando Secures
Court docket Injunction, restraining SEC, NSE
5.
Oando Shares Now
Obtainable for Buying and selling, No Value Motion Throughout Technical Suspension
6.
JSE Follows NSE,
Suspends Buying and selling within the Shares of Oando Plc
7.
Oando Provides
Holding Response on SEC’s Directive to NSE to Droop Buying and selling of Its Shares
8.
Oando PLC’s
Official Assertion on the SEC’s Directive to The NSE to Droop Buying and selling of Its
Shares
9.
NSE, SEC Verify
Choice To Droop Buying and selling On The Shares of Oando Plc
10. Buying and selling on the
Shares of Oando Plc Suspended; Causes Unknown
11.
Oando Fuel &
Energy Rebrands as Axxela
12. Home of Reps
provides SEC Two weeks to submit Report on Oando PLC
13. Oando Plc. – AGM
Decision
14. Oando Plc holds
fortieth AGM, engages Shareholders on the Progress of its Restructuring Plan
15.
Oando Plc’s fortieth
AGM To Maintain As Deliberate Following SEC Affirmation
16. Oando Plc to
Maintain fortieth AGM on Sept 11, 2017
17.
Oando Plc Points
an Replace on Claims of a SEC Investigation
18. OANDO Declares
N4.56bn Revenue in Q2 2017 Outcomes,(SP:N7.80k)
19. Oando Points
Press Launch over SEC Investigation
20. Company
Earnings for the Week Ending 140717 – UCAP declares N1.99 billion Revenue in
Q2’17 Outcomes
21. SEC
Investigating Oando Plc
22. OANDO Plc
Declares Closed Interval
23. Oando Gives
Clarifications on its Refinery Ambitions
24. OANDO Declares
N1.71bn Revenue in Q1 2017 Outcomes,(SP:N5.80k)
25. OANDO Plc Declares
Closed Interval
26. Oando Plc to
Maintain 2016 AGM on Tuesday 2nd August
27. Oando Plc Key
Highlights on This autumn 15 and Q1 16
28. OANDO Concludes
Recapitalization Partial Divestment of Fairness Stake in Its Downstream
Operations
29. Materials
Uncertainty Could Forged Doubt on Oando’s Skill to Proceed as a Going Concern –
Ernst & Younger
30. OANDO Releases
This autumn 15 and Q1 16 Outcomes Declares N4.10bn PAT in Q1 SP N6.50k
31. Oando Plc
Secures 5 12 months N94.6 Billion Medium Time period Facility with 10 Nigerian Banks
32. Oando explains
what Deregulation of Petrol Value means for its Downstream Operations
33. OANDO to amass
OER Minority Shares for a Consideration of US 1.20 per share in Money
34. The Company
Governance Ranking System –
Proshare
35. ETI, Oando Plc
underneath Hearth over Possession, Governance
Associated Information on SEC Legal guidelines and Company Governance
36. The-Market-Memorandum—Elementary-Concerns-for-Capital-Market-Reforms-in-Nigeria/2910
37. Company
Governance and Administrators’ Remuneration
38. SEC Proposes New
Guidelines & Amendments to Guidelines on E-book Constructing, Company Governance
39. Good Company
Governance is Good Enterprise
40. SEC, Udo Udoma
And Company Governance: The Truth Recordsdata
41. Enabling Legislation –
Funding and Securities Act (ISA) 2007
42. SEC Nigeria’s
Executed Guidelines and Laws as at June 2017
43. SEC Nigeria’s
Consolidated Guidelines and Laws as at 2013
44. Code of
Company Governance for Public Companies_4 April 2011
Associated Information on Oando from Different Sources
45. N236bn
Legal responsibility: Oando Shareholders Protest in Ibadan – Unbiased
46. Intel’s Volpi
Steps Up Battle In opposition to Wale Tinubu over Management of Oando – ThisDay
47. Suspension of
OANDO PLC – SEC
48. Oando
Shareholders Set To Sack Wale Tinubu, Board – Unbiased
49. Discover to the
Common Public on Oando Plc –
SEC
50. So what’s
occurring at Oando (2)? – Enterprise Day
51. So what’s
occurring at Oando (1)? – Enterprise Day
52. The within
story: Why SEC ordered a Forensic audit of Oando Plc – Enterprise Day
53. CorporateStories:
Beneath siege, the battle for Oando – Nairametrics
54. Oando and IAS
24: What the regulation can not do by @Doubleeph – Nairametrics
Acknowledgement/Analysis Hyperlinks
55. Securities and Alternate Fee,
Nigeria
56. The Nigerian Inventory Alternate
57. Oando Plc
58. Conference for
Enterprise Integrity
59. Vetiva Capital
Administration Ltd
60. Oando’s
Buyers Relation Web page – TheAnalyst
61. Oando Plc
Audited Monetary Statements – 2012
62. Oando Plc
Audited Monetary Statements – 2013
63. Oando Plc
Audited Monetary Statements – 2014
64. Oando Plc
Audited Monetary Statements – 2015
65. Oando Plc Audited
Monetary Statements – 2016
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