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Oando PLC (OANDO.LG)

OANDO.LG on Lagos Stock Exchange

5.97NGN
16 Oct 2017
Change (% chg)

0.14 (+2.40%)
Prev Close
5.83
Open
5.99
Day's High
5.99
Day's Low
5.95
Volume
2,064,159
Avg. Vol
3,315,779
52-wk High
10.50
52-wk Low
3.54

Latest Key Developments (Source: Significant Developments)

Nigeria's SEC orders suspension of Oando's shares - Stock Exchange
Wednesday, 18 Oct 2017 04:44am EDT 

Oct 18 (Reuters) - Nigeria's Stock Exchange::SECURITIES AND EXCHANGE COMMISSION DIRECTS TO SUSPEND FULL TRADING IN OANDO SHARES FOR 48-HRS FROM OCT 18, TECHNICAL SUSPENSION FROM OCT 20.  Full Article

Oando Plc issues official statement on claims of a SEC investigation
Monday, 28 Aug 2017 05:25am EDT 

Aug 28 (Reuters) - OANDO PLC ::OFFICIAL STATEMENT ON CLAIMS OF A SECURITIES AND EXCHANGE COMMISSION (SEC) INVESTIGATION.CO'S POSITION REMAINS THAT THESE PETITIONS HAVE NO MERIT AS THE ISSUES RAISED HAVE RECEIVED BOARD, SHAREHOLDER AND WHERE REQUIRED SEC APPROVAL."OTHER MATTERS HIGHLIGHTED BY THE PETITIONERS COULD HAVE BEEN DIRECTED TO THE COMPANY AND WOULD HAVE RECEIVED THE NECESSARY CLARIFICATION".  Full Article

Oando clarifies on reports stating it is under investigation by SEC
Friday, 14 Jul 2017 01:10pm EDT 

July 14 (Reuters) - Oando Plc :Clarifies on reports stating oando is under investigation by SEC.Investigation by SEC regarding shareholding structure following $1.65 billion cash oando paid to acquire oil production assets of Conoco-Phillips in Nigeria.Says SEC is in receipt of correspondence containing unsubstantiated, misleading and defamatory claims with respect to matters already received approval.Co is fully co-operating with SEC in discharge of its duties by providing all appropriate clarifications and rebuttals on matters raised in said correspondence.  Full Article

Oando posts qtrly group pre-tax loss from continuing operations 647 mln naira
Thursday, 27 Apr 2017 11:18am EDT 

April 27 (Reuters) - Oando Plc :Qtrly group revenue from continuing operations 138.27 billion naira versus 20.48 billion naira year ago.Qtrly group loss before income tax from continuing operations 647 million naira versus loss of 20.70 billion naira year ago.  Full Article

Oando Plc reports FY group loss before tax of 63.38 bln naira
Tuesday, 4 Apr 2017 12:34am EDT 

Oando Plc : FY group loss before tax from continuing operations of 63.38 bln naira vs loss of 39.11 billion naira year ago . FY group revenue from continuing operations of 455.75 bln naira vs 203.43 billion naira year ago . Says directors have not proposed dividend for the year ended Dec. 31, 2016 Source: http://bit.ly/2nDNU09 Further company coverage: [OANDO.LG] (Bangalore.newsroom@thomsonreuters.com).  Full Article

Oando announces delay in filing of results for year ended Dec. 31, 2016
Monday, 3 Apr 2017 03:58am EDT 

Oando Plc : Says delay to publishing of its results for year ended Dec. 31, 2016 Source: http://bit.ly/2o1gFH4 Further company coverage: [OANDO.LG] (Bangalore.newsroom@thomsonreuters.com).  Full Article

Oando Plc reports H1 loss after tax of 27.0 bln naira
Tuesday, 2 Aug 2016 12:08am EDT 

Oando Plc : Says H1 turnover increased by 18%, 212.0 billion naira compared to 180.0 billion naira year ago . Says H1 loss-after-tax decreased by 23%, (27.0 billion naira) compared to (35.0 billion naira) year ago Source: http://bit.ly/2avFPE4 Further company coverage: [OANDO.LG] ((Bengaluru Newsroom; +91 80 6749 1130)).  Full Article

Oando sees "materially lower" Q2 earnings due to naira devaluation
Monday, 18 Jul 2016 09:41am EDT 

Oando Plc : Expects to report materially lower earnings for Q2'16 due to impact of naira devaluation against us dollar . Says impact of naira devaluation expected to amount to unrealized foreign exchange loss . At time of devaluation,Co had USD denominated borrowings of about $260 mln in naira dominated earnings businesses . Reiterates its focus of returning the group to profitability by growing dollar earning higher margin upstream and export trading businesses Source : http://bit.ly/29OqVaW Further company coverage: [OANDO.LG] ((Bengaluru Newsroom; +91 80 6749 1130;)).  Full Article

Oando concludes recapitalization and partial divestment of equity stake in downstream operations
Monday, 4 Jul 2016 12:26am EDT 

Oando Plc : Says has announced $210 million recapitalization of downstream operations by hv investments . HV Investments II B.V., (HVI) is joint venture owned by Helios Investment Partners and The Vitol Group . Says new company will be formed to hold interests in Oando Marketing Ltd, Oando Supply & Trading Ltd, Apapa Spm Ltd, and Oando Trippmart Ltd . Says the Co will retain 49% shareholding in newly formed corporate vehicle, with the consortium owning 49%, and the residual 2% owned by local entity . Says the new company will be renamed OVH Energy . Says initial board will consist of Wale Tinubu, Group Chief Executive of Oando Plc., as the Chairman, Christian Chammas, CEO of Vivo Energy . Says current CEO, Yomi Awobokun, will continue in his role and service stations will retain the Oando brand Source : http://j.mp/29dOvij Further company coverage: [OANDO.LG] ((Bengaluru Newsroom; +91 80 6749 1130;)).  Full Article

Oando reports qtrly group revenue of 27.72 bln naira
Friday, 1 Jul 2016 06:16am EDT 

Oando Plc : Quarter ended march 2016 group revenue of 27.72 billion naira versus 30.65 billion naira year ago . Quarter ended march 2016 group loss before income tax from continuing operations of 18.65 billion naira versus loss of 11.34 billion naira year ago Source : http://bit.ly/29a2vKY Further company coverage: [OANDO.LG] ((Bengaluru Newsroom; +91 80 6749 1130;)).  Full Article

UPDATE 2-Nigerian regulator suspends Oando shares, orders audit

* Oando has gained 27 pct this year (Adds comments from Oando, bullet points, background)