Oando PLC (“Oando” or the “Company”), Nigeria’s leading indigenous energy group listed on the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE), hereby refers the public and our shareholders to our prior publication of October 2, 2024, wherein we informed of a delay in the completion and publication of our 2023 Audited Financial Statements (AFS) due to the materiality of our recently completed acquisition, and communicated that we would be publishing said financials by October 23, 2024. We hereby regret to notify the public of a seven-day delay.
We wish to further provide an update that the Audit Committee and Company’s Board had convened as scheduled to review and approve the 2023 AFS and had provisionally approved the financials presented subject to the issuance of the auditors’ opinion. However, the Auditors requested additional time to finalize their Audit Opinion, which now includes evaluating the impact of the acquisition.
Once the Audit Opinion is issued and the financial statements are approved by the Audit Committee and the Board on October 30, 2024, the Auditors will submit the financials to the Financial Reporting Council of Nigeria (FRCN) for approval, after which they can be published on the NGX and JSE Limited. Accordingly, and in line with the FRCN’s approval timeline, we anticipate that the 2023 AFS will be published on or before November 1st, 2024.
Again, we sincerely apologize for any inconvenience these delays may have caused and greatly appreciate the patience of our stakeholders during this time.
Ends
