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    JAMB sets 150 as cut-off mark for 2025/2026 university admissions

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    • Africa
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Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

Friday, 3 December 2021, 4:01 pm
in Business, Companies
0
Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn
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Alhaji Dahiru Mangal, a Substantial Shareholder in Oando Plc (NGX: OANDO) has sold 1.96 billion ordinary shares he holds in the company. This was contained in a Notification of Share Dealing by Insiders published by OANDO on the Nigerian Exchange Limited.

On 29th November 2021, Investogist had reported that Leaf Investment & Realtors Ltd acquired nearly 2 billion shares in Oando Plc. The acquisition was first disclosed by OANDO in a press statement issued on the Nigerian Exchange Limited.

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The notification of share dealing seen by Investogist, shows that the transaction was done in 8 trenches, on 22nd November 2021 in Lagos.
  • Trench #1: 71,330,000 units at N6.00
  • Trench #2: 640,970,193 units at N6.00
  • Trench #3: 191,251,197 units at N6.00
  • Trench #4: 30,077,00 units at N6.00
  • Trench #5: 240141,139 units at N6.00
  • Trench #6: 704,450,000 units at N6.00
  • Trench #7: 45,000,000 units at N6.00
  • Trench #8: 45,000,000 units at N6.00

This amounted to an aggregate volume of 1,968,452,614 units at a price of N6.00 per share, worth a total value of N11.81 billion.

The transaction was part of the truce Alhaji Dahiru Mangal had with Ocean and Oil Development Partners Ltd. while extending an olive branch, according to a source.

This is coming after the Securities and Exchange Commission (SEC) had mandated the company to settle all the grievances causing issues with its majority shareholder.

Alhaji Mangal is expected to withdraw his directors, both the executive director, Mukhtar Zubair and non-executive director, Alhaji Bukar Goni Aji from the board of OANDO, as part of the settlement plan.
Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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