The Securities and Exchange Commission (SEC) has indefinitely suspended the Annual General Meeting (AGM) of Oando Plc planned to hold on Tuesday, June 11th.
Okay.ng understands that the commission disclosed this in a statement on Monday morning.
The statement read:
“The Securities & Exchange Commission (‘the 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 & EXCHANGE COMMISSION & ANOR, the Annual General Meeting of Oando Plc (a company listed on the Nigerian and Johannesburg Stock Exchanges) scheduled to hold at the Zinnia Hall, Eko Hotels and Suites, Plot 1415, Adetokunbo Ademola Street, Victoria Island, Lagos on Tuesday, June 11, 2019 at 10: 00am has been suspended till further notice.
“Accordingly, the Commission has directed the suspension of the Annual General Meeting of Oando Plc to allow the parties maintain status quo.
“The Commission will update relevant stakeholders and the public on the outcome of the ongoing litigation.”