Oando Plc has announced that the second tranche of its share distribution to eligible shareholders will be completed on or before Tuesday, 31 March 2026.
This was disclosed in a filing on the Nigerian Exchange, outlining the distribution details as resolved by the board on Tuesday, 10 February 2026.
According to the disclosure, Tranche 2 will distribute 604,348,395 units to shareholders, allocating two new units for every 27 existing shares held, following the completion of Tranche 1.
Combined with 679,364,206 shares from Tranche 1, the total distribution of 1,283,712,601 units completes the planned share allocation and updates the company’s share structure.
What the company is saying
Oando said that at its Annual General Meeting on 17 December 2024, shareholders approved plans to distribute ordinary shares on a pro-rata basis to those on record on board-determined dates.
- The company held a follow-up meeting in January 2025, resolving to implement the distribution, and communicated this decision to the Nigerian Exchange Limited and the investing public on 5 February 2025.
- In its public disclosure, Oando noted that the distribution would occur within 36 months, starting from 30 January 2025.
- According to the group, only shareholders who qualified as of 14 February 2025 received the first distribution upon its completion in August 2025, a move that was also made public.
Following this, the second tranche of 604,348,395 remaining shares out of a total 1,283,712,601 ordinary shares will be distributed to shareholders who qualified as of 30 June 2025, with completion expected on or before 31 March 2026.
Oando further stated that any fractional entitlements will be rounded to the nearest whole number, with no cash payment made for any fractions.
Get up to speed
Commenting on the development after the completion of Tranche 1, Wale Tinubu, CON, Group Chief Executive of Oando Plc, said the initiative reflects the company’s commitment to delivering real value to shareholders.
- He explained that the company issued news units for existing shares without reducing shareholders’ ownership.
- This provided effective yields based on the market price.
For shareholders, the distribution increases their units at no extra cost and offers potential gains if the company performs well, with the CEO noting that allocations were made fairly in proportion to existing holdings.
For the company, the exercise helps improve its share structure, properly manage units in circulation, strengthen investor confidence, and meet regulatory requirements.
What you should know
Oando Plc recently submitted an application to the Nigerian Exchange Limited seeking approval to list a rights issue of 4,415,867,342 ordinary shares, aiming to raise N220.79 billion in fresh capital.
- The capital raise follows a softer 2025 financial year, during which revenue declined to N3.21 trillion from N4.08 trillion, while profitability margins contracted.
- Both the share distribution and the capital raise are exercises that could help boost investor confidence in the company.
As of pre-market opening on 20 February 2026, Oando shares have risen 4.48% year-to-date, currently priced at N42.
