Oando Says JSE Suspends Listing Over Non Submission Of Results

The board of Oando Plc, on Thursday said its secondary listing on the Johannesburg Stock Exchange (JSE), has suspended its secondary listing for failing to meet the extended deadline for submitting its audited accounts for the 2022 full-year, and the interim numbers for 2023.

Recall that the company has also not complied with submission timetable it presented to the Nigerian Exchange Limited for submission of its long-awaited accounts.

The company, in a letter through the Company Secretary and chief compliance officer, Ayotola Jagun, told shareholders through the NGX, that it received the letter suspending the secondary listing of its securities from the JSE on March 27, 2024.

According to the notice, Mrs. Jagun said Oando Plc “had 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 said “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.”