Oando shareholders approve cross-border listings and digital asset expansion

Oando PLC shareholders have approved several major strategic shifts during the company’s 47th Annual General Meeting. Key resolutions include authorizing the Board of Directors to pursue cross-border listings on foreign stock exchanges and amending the company’s Memorandum of Association to allow for expansion into digital assets, cryptographic technologies, and distributed ledger technologies.

Additionally, shareholders approved amendments to the Articles of Association to permit future general meetings to be held via physical, virtual, or hybrid formats. The company also re-appointed BDO Professional Services as its external auditor for the 2026 financial year.

On the Nigerian Exchange (NGX), Oando’s share price remained relatively flat at N34 per share following the announcement. Despite the strategic approvals and production targets of 40,000 to 50,000 boepd, market analysts noted that investor sentiment has remained subdued, with the company’s current market value sitting significantly below its 12-month peak.