The OP4-(Li/Na)xCoO2 phase is an unusual lamellar oxide with a 1:1 alternation between Li and Na interslab spaces. In order to probe the local structure, electronic structure and dynamics, 7 Li and 23 Na magic angle spinning nuclear magnetic resonance (MAS NMR) spectroscopy were performed in complementarity to X-ray diffraction and electronic and magnetic properties measurements. 7 Li MAS NMR showed that NMR shifts result from two contributions: the Fermi contact and the Knight shifts due to the presence of both localized and delocalized electrons that is really unusual. 7 Li MAS NMR clearly shows several Li environments indicating that, moreover, Co ions with different local electronic structures are formed, probably due to the arrangement of the Na + ions in the next cationic layer. 23 Na MAS NMR showed that some Na + ions are located in the Li layer what was not previously considered in the structural model. The Rietveld refinement of the synchrotron XRD led to the OP4-[Li0.42Na0.05]Na0.32CoO2 formula for the material. In addition, 7 Li and 23 Na MAS NMR provide information about the cationic mobility in the material: whereas no exchange is observed for 7 Li up to 450K, the 23 Na spectra reveals already a single average signal at room temperature due to much larger ionic mobility.