BY BAMIDELE FAMOOFO
Seplat Energy has announced that the Federal High Court sitting in Lagos has vacated the ex parte Interim Orders against Seplat, its CEO and its Board Chairman, including the orders that restrained the Chief Executive Officer, Roger Brown, from participating in the running of the company.
The announcement authorised for publication by Basil Omiyi, Independent Chairman, on behalf of the entire Board of Seplat Energy Plc, disclosed that the case has been adjourned to May 16, 2023, to continue the hearing.
The ex parte Interim Orders were in relation to a court petition filed by five persons who claim to be minority shareholders of the Company, collectively holding 161 units of shares.
The company maintains that the petition lacks proper basis and is premised on false allegations.
According to Omiyi, “Seplat Energy remains confident that the judicial process will address the circumstances appropriately. The company continues to engage with the Ministry of Interior.”
Seplat Energy Plc is Nigeria’s leading indigenous energy company. It is listed on the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).
Seplat Energy is pursuing a Nigeria-focused growth strategy through participation in asset divestments by international oil companies, farm-in opportunities, and future licensing rounds.
The Company is a leading supplier of gas to the domestic power generation market.
