Oando Plc says its attention has been drawn to recent allegations on social and digital media, levelled against the company of being a shareholder, and its Principals of being Board members, in a Maltese company, Ras Hanzir Oil Terminal Limited that operates an oil storage and blending facility, and is purportedly responsible for importing adulterated petroleum products into Nigeria.
Considering the above, the company wishes to refute such claims and attest that neither Oando PLC nor its Executives have ever held shares, investments, or interests in the said Maltese company.
As part of a comprehensive investigation into the basis of the false claims, it has conducted a search of Malta Business Registry, official repository for all registered entities past and current within the country.
The company’s search yielded no results for a company bearing that name. Subsequent due diligence efforts similarly failed to uncover any record of the company’s existence.
Oando believes that the false claims are of malicious intent of misleading the public and its stakeholders.
Besides, the company reiterates that as a publicly listed company, any corporate actions, such as acquisitions, are declared publicly in accordance with applicable corporate governance Laws and Rules.
Furthermore, it is imperative that information released about a publicly quoted company such as Oando, is thoroughly researched and deemed accurate before it is published in the public domain. The company’s securities are traded daily across two exchanges (NGX and JSE) to prevent misinformation and confusion among investors, as well as other stakeholders.
“We implore all members of the Press to take adequate steps to ensure the veracity of reports by fielding all enquiries with Oando PLC’s Corporate Communications department.”
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