Regulatory Alerts2021-04-30
Update on Suspension of the Annual General Meeting of Oando Plc
The Nigerian Securities and Exchange Commission issued this directive to clarify the regulatory status of Oando Plc following its May 2019 sanctions and the court-ordered suspension of the company's Annual General Meeting. Shareholders and Oando Plc have filed multiple lawsuits that produced conflicting Federal High Court rulings on jurisdiction, with several appeals and stay applications currently pending. The Commission mandates that all parties maintain the status quo until these litigations are conclusively resolved.
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