The Federal High Court sitting in Lagos has vacated ex parte orders against Seplat Energy, its CEO Roger Brown, and Basil Omiyi, the chair of its directors’ board.
The energy firm made this known in a regulatory filing posted to the Nigerian Exchange on Thursday.
Among the orders was a directive prohibiting Brown from taking part in the running of the company.
Hearing is to continue on March 16, Seplat Energy said.
C.J Aneke, a judge of the Federal High Court, Lagos, in early March issued the order against Brown following allegations bordering on favouritism, racism, discrimination and breach of corporate governance by some stakeholders against the CEO.
The judge had also granted the prayer of the petitioners, including Moses Igbrude, Kenneth Nnabike, Sarat Kudaisi, Ajani Abidoye and Robert Ibekwe, requesting that Omiyi and all independent non-executive directors be disallowed from running the company’s affairs “in an illegal, unfairly, prejudicial and oppressive manner pending the hearing and determination of the petitioners’ motion on notice for interlocutory injunction.”
Seplat Energy disclosed in the Thursday statement that the five persons claimed to be minority shareholders of the company, altogether holding 161 units of shares.
“The Company maintains that the petition lacks proper basis and is premised on false allegations,” Seplat Energy said.
“Seplat Energy remains confident that the judicial process will address the circumstances appropriately. The Company continues to engage with the Ministry of Interior,” it added.
