The oil firm’s share price, which rose by 5.26 per cent to N4.00 on Thursday after falling by 9.52 per cent to N3.80 on June 3, was unchanged at N4.00 on Friday. But the share price dipped by 3.75 per cent to close at N3.85 on Monday. The apex capital market regulator announced on Monday morning in a statement that it had directed Oando to suspend its Annual General Meeting slated for Tuesday (today).
The statement read, “The Securities and Exchange Commission hereby notifies the public that further to the ex-parte order of the Federal High Court, Ikoyi Lagos in Suit No: FHC/L/CS/910/19 IN Mr Jubril Adewale Tinubu & Anor V Securities and Exchange Commision & Anor, the Annual General Meeting of Oando Plc (a company listed on the Nigerian and Johannesburg Stock Exchanges) scheduled to hold on Tuesday, June 11, 2019 at 10:00am has been suspended till further notice.
(Punch)
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