Seplat Energy PLC Federal High Court strikes out Igbrude Petition (6133Z)
16 Mayo 2023 - 08:34AM
UK Regulatory
TIDMSEPL
RNS Number : 6133Z
Seplat Energy PLC
16 May 2023
Seplat Energy Plc
("Seplat Energy" or the "Company")
Federal High Court strikes out the Moses Igbrude Petition
Lagos and London - 16 May 2023: Seplat Energy is pleased to
announce that, today, the Federal High Court, sitting in Lagos, has
struck out the Petition commenced on 8(th) March 2023 by Moses
Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye and Robert
Ibekwe in Suit No. FHC/L/CP/402/2023 - Moses Igbrude & 4 others
V. Seplat & 2 others. As previously announced, the Petition led
to ex parte Interim Orders that ordered Mr. Roger Brown to step
aside as the CEO of the Company. However, the Court later vacated
the Orders on 6(th) April 2023.
At today's hearing, it came to the knowledge of the Court that
the Petitioners had prepared a Notice of Discontinuance dated
13(th) April 2023 and filed on 18(th) April 2023. The Petitioners
inexplicably delayed service of the Discontinuance Notice on Seplat
and its Officers until yesterday and today, respectively. The Court
therefore struck out the Petition and ordered the Petitioners to
pay costs to Mr. Roger Brown in the amount of N1 million.
This judicial outcome follows yesterday's suspension by the
Court of Appeal of the ex parte Interim Orders granted by the
Federal High Court (Abuja) in Suit No. FHC/ABJ/CS/626/2023 - Juliet
Gbaka & 2 others v. Seplat Energy Plc & 13 others.
The Moses Igbrude Petition was the first in the successive line
of petitions commenced against Seplat Energy between March and
April 2023 by a combination of 13 minority shareholders holding
less than 800 shares out of 589 million shares (or 0.0001% of the
Company's issued shares). The Moses Igbrude Petition also
introduced the onslaught of false and orchestrated allegations
against the Company, its CEO and its Directors/Officers, which
formed the basis of the actions taken by the Ministry of Interior
and the criminal charge brought against Seplat Energy and its
Officers, which was promptly withdrawn by the Nigeria Immigration
Service while the Company and its Officers were entirely discharged
by the Federal High Court (Abuja) in April 2023.
Seplat Energy reiterates its confidence in the Nigerian
Judiciary as it continues its systematic resolution of these
orchestrated and frivolous litigations, which are aimed at
disrupting the smooth operations of the Company.
This announcement is made pursuant to Rule 17.10 of th e
Rulebook of the Nigerian Exchange, 2015 (Issuer's Rule).
Responsibility for publication
This announcement has been authorised for publication by Mr.
Basil Omiyi, Independent Chairman, on behalf of the entire Board of
Seplat Energy PLC.
Signed:
Mr. Basil Omiyi CON
Board Chairman
Enquiries:
Edith Onwuchekwa, Director Legal/Company +234 1 277 0400
Secretary
FTI Consulting
Ben Brewerton / Christopher Laing +44 203 727 1000
seplatenergy@fticonsulting.com
====================================== ============================================================
Citigroup Global Markets Limited
Tom Reid / Luke Spells +44 207 986 4000
====================================== ============================================================
Investec Bank plc
Chris Sim / Charles Craven / Jarrett +44 207 597 4000
Silver
====================================== ============================================================
Notes to editors
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. For further information please refer to the
Company
website, http://seplatenergy.com/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFLFVVEIIRLIV
(END) Dow Jones Newswires
May 16, 2023 09:34 ET (13:34 GMT)
Seplat Energy (LSE:SEPL)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Seplat Energy (LSE:SEPL)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024