Court vacates interim orders against Seplat Energy CEO

The Federal High Court sitting in Lagos has vacated the ex parte Interim Orders against Seplat Energy Plc, its CEO and its Board Chairman, including the orders that restrained the Chief Executive Officer, 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.

Related News

“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,” according to Basil Omiyi, Chairman, Seplat Energy Plc in a statement on Thursday.

The 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).

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp