Oando PLC strategic shareholder approvals

During its 47th Annual General Meeting, Oando PLC shareholders approved several strategic resolutions aimed at scaling operations and modernizing corporate governance. Key approvals included the authorization for the Board to pursue cross-border listings on foreign stock exchanges to increase liquidity and international investor access. Shareholders also approved amendments to the company’s Memorandum and Articles of Association to permit the use of digital assets, cryptographic technologies, and distributed ledger technologies, as well as the ability to hold future general meetings in physical, virtual, or hybrid formats.

Administrative approvals included the re-appointment of BDO Professional Services as external auditors and the approval of 2025 audited financial statements. Following these announcements, Oando’s share price on the Nigerian Exchange remained relatively flat at N34 per share. Despite production targets of 40,000 to 50,000 boepd, analysts observed that investor sentiment remained subdued, with the company’s market value sitting significantly below its 12-month peak.