Leaf Investment & Realtors Limited has acquired15.83% shares in Oando Plc.
This follows the purchase of 1,968,452,614 units of Oando Plc shares owned by Alhaji Dahiru Mangal.
According to a press statement issued by Oando Plc and filed with the Nigerian Exchange Limited (NGX), Leaf Investment & Realtors Limited now holds about 15.83% of the total shareholdings in Oando Plc.
The transaction was part of the truce Alhaji Dahiru Mangal had with Ocean and Oil Development Partners Ltd. while extending an olive branch, according to a source.
This is coming after the Securities and Exchange Commission (SEC) had mandated the company to settle all the grievances causing issues with its majority shareholder.
Consequently, it is expected that Alhaji Mangal would also withdraw his directors, both the executive director, Mukhtar Zubair and non-executive director, Alhaji Bukar Goni Aji, as part of the settlement plan.
What they are saying
Confirming the recent acquisition, Oando Plc in a press statement acknowledged by its Secretary, Ayotola Jagun and its Head of Corporate Communications, Alero Balogun, stated that: “In accordance with Rule 17:13 (a) of the Nigerian Exchange Limited Issuers’ Rules, we hereby announce the acquisition of Alhaji Dahiru Mangal’s interest of 1,968,452,614, shares in Oando PLC by Leaf Investment & Realtors Limited.
‘’Based on the above, by Leaf Investment & Realtors Limited now holds 15.83% of Oando PLC.’’
What you should know
- The deal was negotiated as a cross deal by APT Securities and Funds Limited.
- Oando Plc’s share price shed about 2.78% to close at N4.90 per share on the local bourse today. The firm traded about 1.41 million of its shares today.