Oando Plc has again failed to obtain approval for the Scheme of Arrangement document from the Securities and Exchange Commission and the Nigerian Exchange Limited (NGX) which will enable Ocean and Oil Development Partners Ltd to pay off the minority shareholders of Oando.
The company admitted on Wednesday that its failure to file the document has led to the adjournment of the hearing on the petition filed on March 25, 2021, by Venus Construction Company Limited and 13 other minority shareholders to February 5, 2024.
