“Oando Plc Shareholders’ Case Hearing Postponed by Federal High Court”

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The Federal High Court, Lagos Division, has postponed the hearing in the case brought by 14 shareholders of Oando Plc, an energy group. The company, in a corporate notice submitted to the Nigerian Exchange Limited on Thursday, disclosed this information.

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According to the notice signed by the Company Secretary, Ayotola Jagun, the court has rescheduled the hearing, originally initiated on March 25, 2021, to November 28, 2023. This adjournment aims to allow the company ample time to provide a comprehensive report of its adherence to the Court’s directive issued on June 7, 2022.

The directive mandated the company to submit its Scheme of Arrangement document (the “Scheme Document”) to both the Securities and Exchange Commission (SEC) and the NGX within a 30-day period, alongside other specified instructions.

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