JSE suspends Oando share trading over failure to file results

JOHANNESBURG Stock Exchange (JSE Limited) has suspended the trading of Oando Plc shares on its platform.

The suspension was due to the company’s failure to publish its audited financial results for the year 2022 and the interim results for 2023 within the deadlines extended by the exchange.

Oando Plc, Nigeria’s leading indigenous energy group, both listed on the Nigerian Exchange Limited (NGX) and its South African counterpart, notified the public and its shareholders on the suspension in a notice to the NGX, stating that it received a letter on March 27, 2024 from the JSE suspending the secondary listing of its securities.

Oando noted it had sought an additional extension from the JSE to submit the required financial documents.

However, the request was denied, leading to the suspension of its securities trading on the exchange.

This action prevents investors from engaging in transactions involving Oando’s shares on the JSE until the company complies with the listing requirements..

Oando said the 2022 Accounts are scheduled to be approved by the Board of Oando Plc on or before April 15 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.

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