By Chinwendu Obienyi and Chukwuma Umeorah
Nigeria’s indigenous energy group listed on both the Nigerian Exchange Limited (NGX) and Johannesburg Stock Exchange (JSE Limited), Oando Plc, has announced that its interim results for 2023 will be released to the market as soon after the 2022 Accounts are published.
In a filing sent to the investing community, the company stated that pursuant to Rule 1.1.2 of the Rules for Filing of Accounts and Treatment of Default Filing, Rulebook of the NGX, it missed the deadline to file its 2023 Audited Financial Statements (AFS) for the year ended 31 December 2023 (2023 AFS) by the due date of 30 March 2024 as a result of delays with finalizing the Oando Groups’ 2022 Audited Financial Statements.
The company said, “The 2022 Audited Financial Statements of Oando Plc have now been finalised and approved by the Board on Monday, 8th of April 2024 and will be sent to the Financial Reporting Council of Nigeria (FRC) immediately for regulatory approval, prior to their release to the market. The interim results for 2023 will also be released to the market soon after the 2022 accounts are published”.
It noted that having approved the 2022 Audited Financial Statements, the audit of the 2023 AFS has now commenced, and the company is committed to ensuring that the 2023 AFS is published on or before July 31, 2024.
“Oando Plc apologizes for any inconveniences caused and assures the general public that it is doing everything possible to ensure full compliance with its regulatory obligations within the shortest possible time”, the company said.
The share price of the company at the end of last week’s trading activity, rose by 10.57 per cent in one week to close at N12.55 per share.