Oando Plc has announced plans to move forward with the second tranche of its share distribution programme, with more than 600 million ordinary shares set to be allocated to qualified shareholders as part of a phased reward initiative.
In a corporate filing, the company revealed that shareholders approved the distribution plan at its 45th Annual General Meeting.
The resolution authorises the company to redistribute shares received by it to investors on a pro-rata basis, with specific timelines to be determined by the board.
The board further committed to completing the entire distribution within 36 months starting from January 30, 2025.
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Following the successful completion of the first tranche in August 2025, the board resolved on February 10, 2026, to proceed with the second tranche.
The latest phase involves the allocation of 604,348,395 ordinary shares under the first phase of the programme.
According to the disclosure, shareholders listed in the register of members as of the Tranche 2 Qualification Date June 30, 2025 will receive two new ordinary shares for every 27 existing shares held.
The company expects the distribution process to be finalised on or before March 31, 2026.
The phased share allocation forms part of a broader initiative aimed at returning shares previously held by the company back to investors.
Earlier filings indicated that the first phase covered approximately 1.28 billion shares, structured into two tranches under a 1-for-12 distribution ratio for eligible shareholders.
With the first tranche already completed, the implementation of the second tranche marks the next step in Oando’s shareholder value enhancement strategy.
