Court Vacates Interim Court Orders Against CEO
("Seplat Energy" or the "Company")
Court Vacates the Interim Court Orders against Seplat Energy CEO
Lagos and London - 06 April 2023: Seplat Energy announces that today, the Federal High Court sitting in Lagos, vacated the ex parte Interim Orders against Seplat, its CEO and its Board Chairman, including the orders that restrained the Chief Executive Officer, Mr. Roger Brown from participating in the running of the Company. 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 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. Seplat Energy remains confident that the judicial process will address the circumstances appropriately. The Company continues to engage with the Ministry of Interior.
This announcement is made further to the Company's announcement of March 10, 2023 and pursuant to Rule 17.10 of th e Rulebook of the NigerianExchange, 2015 (Issuer'sRule).
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:
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Edith Onwuchekwa, Director Legal/Company Secretary |
+234 1 277 0400 |
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FTI Consulting |
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Ben Brewerton / ChristopherLaing |
+44 203727 1000 |
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Citigroup GlobalMarketsLimited |
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Tom Reid / Luke Spells |
+44 207986 4000 |
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Investec Bank plc |
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Chris Sim / CharlesCraven / Jarrett Silver |
+44 207597 4000 |
Notes to editors
Seplat Energy Plc is Nigeria's leadingindigenousenergycompany. It is listed on the NigerianExchangeLimited (NGX: SEPLAT) and the Main Market of the London StockExchange(LSE: SEPL).
Seplat Energy is pursuing a Nigeria-focusedgrowthstrategy through participation in asset divestmentsbyinternational oil companies, farm-in opportunities,andfuturelicensingrounds. The Company is a leadingsupplier of gas to the domestic power generation market. For further information please refer to the Company website, http://seplatenergy.com/
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