By YANGE IKYAA
Oando Plc hast announced that a magic investor, Leaf Investment & Realtors Limited,l has acquired 15.83 percent of its shares.
The deal which represents 1,968,452,614 units of the company’s shares were previously owned by Dahiru Mangal in Oando Plc.
Oando in a disclosure on Monday said the notification was in accordance with Rule 17:13 (a) of tm the NGX.
The statement reads, “in accordance with Rule 17:13 (a) of the Nigerian Exchange Limited Issuers’ Rules, we hereby announce the acquisition of Alhaji Dahiru Mangal’s interest of 1,968,452,614, shares in Oando PLC by Leaf Investment & Realtors Limited.
“Based on the above, by Leaf Investment & Realtors Limited now holds 15.83 percent of Oando plc,” Oando stated.
Recall that in 2017, Mangal had petitioned the Securities and Exchange Commission (SEC),accusing Oando of gross financial misconduct, which necessitated suspension of Oando shares from the Nigerian Exchange Limited (NGX).
However, following a brokered peace between Oando and Manga, the Oil and Gas company reached an out of court settlement with SEC.
The regulator in July lifted all sanctions on Oando “in the overriding interest of the shareholders of the company and the capital market after years of legal tussle.”