Shareholders Reaffirm Support for Oando at 47th Annual General Meeting (AGM)

The resolutions passed included the re-election of Mr. Ademola Akinrele, SAN, Mr. Omamofe Boyo, Mr. Ikeme Osakwe and Mr. Adeola Ogunsemi as Directors retiring by rotation; the re-appointment of BDO Professional Services as the Company’s external auditors; the election of members of the Statutory Audit Committee; and approval of the remuneration of Non-Executive Directors.

Shareholders also approved amendments to the Company’s Memorandum and Articles of Association to provide for physical, electronic or hybrid general meetings, as well as provisions relating to digital assets, cryptographic technologies, distributed ledger technologies, and other emerging technologies, subject to applicable laws and regulatory requirements. The meeting further authorised the Board to pursue listings on other stock exchanges, including cross-border listings, subject to requisite regulatory approvals.

A shareholder, Mrs. Bisi Bakare, commended the Board and Management for its strategic approach to portfolio development and disciplined capital allocation. She said: “I just want to use this opportunity to congratulate the Board and management for the strategic shift in the mining and infrastructure business from broad-based exploration to a more disciplined asset prioritisation approach. I believe this is a prudent approach, particularly given the need for disciplined capital allocation across the group.”

Speaking on the Company’s outlook, Group Chief Executive, Oando PLC, Mr. Jubril Adewale Tinubu, CON, highlighted the importance of operational control and disciplined execution in delivering the Company’s growth strategy. He said: “Operational control gives us execution capacity and creates value. We are focusing on clear accountability and stronger performance management. As we continue our integration, we will allocate capital responsibly, report on time, meet our guidance and commit to our choices.”