Oando Extends Right Issue Due To NIPOST Strike

Channels Television  
Updated February 5, 2013

Oando Nigeria PLC has extended its right issues till February 20th.

The company said the extension is as a result of the industrial action at the offices of the Nigerian Postal Services (NIPOST) which caused an outright closure of NIPOST’s offices nationwide, thus making it difficult for circulars to be dispatched to most of its shareholders.

According to the company, the extension has been approved by the Securities and Exchange Commission (SEC).

The right issue of N4.5 billion ordinary shares of 50 kobo each at N12.00 per share opened on Friday December 28, 2012 but will now close on Wednesday, February 20.