Seplat Petroleum Development Co PLC The Reopening of Building at 16A Temple Road (6555M)
22 Enero 2021 - 9:02AM
UK Regulatory
TIDMSEPL
RNS Number : 6555M
Seplat Petroleum Development Co PLC
22 January 2021
Seplat Petroleum Development Company Plc ("Seplat" or the
"Company")
The Reopening of Building at 16A Temple Road
Lagos - 22nd January 2021: Seplat announces that the Court of
Appeal sitting in Lagos has today suspended the Order of
Interlocutory Injunctions made by the Lagos Federal High Court that
led to the sealing of Seplat's Corporate Head Office situated in a
building located at 16A Temple Road, Ikoyi, Lagos, a building which
is not owned by Seplat. The Court suspended the Order, upholding
Seplat's application.
On 2nd December 2020, the building in which Seplat's Corporate
Head Office is located was sealed in connection with a court case
concerning an outstanding loan to Access Bank Plc by Cardinal
Drilling Services Limited ("Cardinal Drilling"), a third-party
providing drilling services to Seplat. Seplat is not a party to the
loan agreement, security agreement or guarantees made by or on
behalf of Cardinal Drilling to Access Bank Plc., and did not
provide any commitments or guarantees in respect of Cardinal
Drilling's loan obligations to Access Bank Plc.
Today's decision by the Court of Appeal demonstrates the
strength of Seplat's case. Seplat will continue to vigorously
defend itself against its unmerited inclusion in the court action
by Access Bank Plc.
- ENDS -
For: Seplat Petroleum Development Company Plc
MRS. EDITH ONWUCHEKWA
Company Secretary and General Counsel
Enquiries:
Seplat Petroleum Development Company Plc
Emeka Onwuka, CFO +234 (01) 277 0400
Chioma Nwachuku, GM External Affairs and Communications
Edith Onwuchekwa, Company Secretary and General
Counsel
FTI Consulting
Ben Brewerton / Sara Powell +44 (0) 203 727 1000
seplat@fticonsulting.com
Notes to editors
Seplat Petroleum Development Company Plc is a leading indigenous
Nigerian energy company with a strategic focus on Nigeria, listed
on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL)
and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). Seplat is
pursuing a Nigeria focused growth strategy and is well-positioned
to participate in future divestment programmes by the international
oil companies, farm-in opportunities and future licensing rounds.
For further information please refer to the company website,
http://seplatpetroleum.com/
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END
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January 22, 2021 10:02 ET (15:02 GMT)
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