Shareholders of Oando Plc have approved an expansion of the energy company’s business scope into digital assets and authorised its board to pursue the listing of its shares on foreign stock exchanges.
The approvals were among resolutions passed at Oando’s 47th Annual General Meeting held in Lagos on Thursday, September 17, 2026.
Under an amendment to the company’s Memorandum of Association, Oando received shareholders’ approval to engage directly or through its subsidiaries in a broad range of activities involving digital assets and emerging technologies.
The new object clause permits the company, subject to applicable laws and regulations, to design, develop, acquire, own, finance, invest in, issue, operate, manage and commercialise digital assets.
It also covers the trading, settlement, safeguarding, verification, authentication, registration, storage and processing of digital representations of value, rights, interests, obligations and ownership through cryptographic, distributed ledger and other emerging technologies.
The amendment potentially gives Oando a corporate framework to participate in blockchain and digital-asset-related businesses, although the resolution itself does not specify particular assets, products, investment amounts or a timetable for entering the market.
In a separate resolution, shareholders authorised Oando’s directors to approve and implement the listing of the company’s shares on other stock exchanges, including through cross-border listings.
The board was empowered to determine the exchanges it considers appropriate and take the necessary steps to complete such listings, subject to obtaining applicable regulatory approvals.
The approval could give Oando greater flexibility to access international capital markets and broaden the geographical reach of its investor base if the board proceeds with an overseas listing.
However, the resolution does not identify a target stock exchange or provide a timeline for a potential transaction.
Shareholders also approved an amendment to Oando’s Articles of Association allowing the company to hold general meetings physically, electronically or through a hybrid format, provided shareholders retain their rights to attend, participate and vote.
At the meeting, shareholders received the company’s 2025 audited financial statements and re-appointed BDO Professional Services as auditor for the financial year ending December 31, 2026.
Ademola Akinrele, SAN; Omamofe Boyo; Ikeme Osakwe; and Adeola Ogunsemi, who retired by rotation, were re-elected to the company’s board.
Ikeme Osakwe and Ken Igbokwe were nominated to represent the board on the Statutory Audit Committee for the 2027 accounts, while Anthony Omojola, Kolawole Kalejaiye and Rashidat Adeshina were elected as shareholders’ representatives.
Shareholders also approved the remuneration of non-executive directors, which remained unchanged from the previous annual general meeting.
In addition, the meeting granted Oando a general mandate to procure goods, services and financing and conduct other transactions required for its day-to-day operations with related parties or interested persons on normal commercial terms consistent with its Transfer Pricing Policy.
Transactions in this category entered into before the AGM were also ratified.
The two strategic resolutions on digital assets and potential cross-border listings significantly widen the options available to Oando’s board as the company looks beyond its traditional energy operations and existing capital-market structure.
SOURCE: Investorsking
