Oando Plc has announced the completion of the first tranche of its share distribution to eligible shareholders, with 679,364,206 shares allocated.
This marks the first phase of a total of 1,283,712,601 shares to be distributed in two stages, after approval by the Board of Directors in January 2025.
The shares stem from a settlement arrangement endorsed at the company’s 45th Annual General Meeting in December 2024, where shareholders agreed to surrender a portion of their holdings to the company for redistribution.