Oando PLC Announces Share Distribution for 2026

Oando PLC has updated its shareholders regarding the distribution of 604,348,395 shares in its second tranche, which is set to be completed on Tuesday, March 31, 2026. This announcement follows the resolution by the board on February 10, 2026, and is part of a broader plan to enhance the company's share structure.

The total distribution from both tranches will amount to 1,283,712,601 ordinary shares, with the second tranche allocated at a rate of two new shares for every 27 existing shares held. Shareholders eligible for this distribution must be on record by June 30, 2025.

Oando's CEO, Wale Tinubu, emphasized the company's commitment to delivering real value to shareholders without additional costs, while also noting that fractional entitlements will be rounded to the nearest whole number, with no cash payments for fractions. Additionally, Oando has submitted an application to the Nigerian Exchange to seek approval for a rights issue of 4,415,867,342 ordinary shares to raise approximately N220.79 billion in fresh capital before the market opens on February 20, 2026.