https://www.engineeringnews.co.za

Oando says petitions submitted to SEC against it have no merit

28th August 2017

By: Anine Kilian

Contributing Editor Online

     

Font size: - +

JSE- and Nigerian Stock Exchange-listed Oando on Monday said two petitions submitted to the US Securities and Exchange Commission (SEC), alleging gross abuse of corporate governance and financial mismanagement by Oando, have no merit.

The petitions were filed against the company by investment company and shareholder Ansbury and Alhaji Dahiru Mangal, an individual who has shares in Oando.

The SEC has since commenced an enquiry in response to the petitions. 

“From the SEC's initial correspondence to the company to date, we have availed them with all documents requested, provided clarification on, and rebuttals to, the issues raised and await a speedy conclusion to the enquiry,” the company said in a statement.

It added that it would provide full disclosure of the outcome as soon as the SEC enquiry is completed.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

M and J Mining
M and J Mining

M and J Mining are leading suppliers of physical support systems as used by the underground mining industry. Our selection of products are not...

VISIT SHOWROOM 
SMS group
SMS group

At SMS group, we have made it our mission to create a carbon-neutral and sustainable metals industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.26 0.321s - 170pq - 2rq
Subscribe Now