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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- 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.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur