Nigeria’s leading indigenous energy group, Oando Plc, on midweek notified the public and shareholders that it has received confirmation from the Johannesburg Stock Exchange on the lifting of the suspension on the secondary listing of its securities with effect from Wednesday, June 5, 2024, allowing trading to resume.

The notice by Ms. Ayotola Jagun, Chief Compliance Officer and Company Secretary, acknowledged and appreciated the patience of stakeholders during this time; expressing commitment “to maintaining the highest standards of corporate governance and transparency.”

Recall that Oando Plc had on March 30 announced the suspension of its secondary listing on the JSE for failing to meet the extended deadline for submitting its audited accounts for the 2022 full-year, and the interim numbers for 2023.

The company said it received the letter suspension letter on March 27, 2024, having “earlier unsuccessfully appealed to the JSE seeking a further extension of time within which to file the relevant accounts and requesting that it hold off its communicated intention to suspend Oando’s listing on the Exchange.”

Consequent upon the suspension, she noted “investors cannot trade the shares of the company during this period on the JSE Limited.”

The notice further assured that long awaited “2022 Accounts are scheduled to be approved by the Board of Oando PLC on or before the 15th of April 2024 and will thereafter be sent to the Financial Reporting Council of Nigeria for regulatory approval prior to its release to the market.

“The interim results for 2023 will also be released to the market soon after the 2022 Accounts are published,” Oando said, adding that further updates will be communicated to the market upon changes to the current situation,” the group added.