Seplat Energy Plc, yesterday announced that the Federal High Court sitting in Lagos, has vacated the ex parte Interim Orders against the company, its Chief Executive Officer (CEO), and Board Chairman.
Also vacated was the restraining order against the CEO, Roger Brown, from participating in the running of the Company. The case has been adjourned to May 16, to continue the hearing.
The ex parte Interim Orders were in relation to a court petition filed by 5 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 a statement signed by the Board Chairman, Basil Omiyi, on behalf of the entire Board
The statement reiterated Seplat Energy’s confidence that the judicial process will address the circumstances appropriately, while it continues to engage with the Ministry of Interior.
“This announcement was made further to the Company’s announcement of March 10, 2023 and pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule),” it added.
The petition lacks proper basis and is premised on false allegations.