By InvestAdvocate
Lagos (INVESTADVOCATE)-Oil marketing firm, Oando Plc said on Thursday the release of its 2015 audited financial statement will be delayed to June 30, 2016.
Oando had earlier communicated a timeline of May 31, 2016 to submit its accounts to the Nigerian Stock Exchange (NSE) and make it public.
“This is to inform our valued shareholders and key stakeholders that there has been a further extension to the release of Oando Plc’s Full Year End (FYE) 2015 Results
Additional enquiries and further engagement with our auditor, Ernst & Young (“EY”), post submission of our numbers to them have resulted in delays to the finalisation of the Accounts which in turn has resulted in a delay in submitting the Accounts to the Financial Reporting Council of Nigeria (“FRCN”) for regulatory review.
Accordingly, the Company was unable to meet with the earlier communicated timeline for the submission of its Accounts of 31 May, 2016.
We (Oando PLC) will work actively with EY and seek an accelerated approval process when the Accounts are submitted to the FRCN in order to ensure we conclude and file our Audited FYE 2015 Results on or before 30 June, 2016,” the oil marketing firm said in a notice to the NSE.
