REG - Seplat Energy PLC - Court strikes out Criminal Charge

Seplat EnergyAnnouncement

28/04/2023 17:00

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RNS Number : 9464X  Seplat Energy PLC  28 April 2023

 

 

 

Seplat Energy Plc

("Seplat Energy" or the "Company")

 

Court strikes out Criminal Charge & declines Interim Orders sought in
duplicated petition

 

 

Lagos and London - 28 April 2023: Seplat Energy is pleased to announce that,
today, the Federal High Court in Abuja formally struck out the criminal charge
brought by the Nigeria Immigration Service against the Company and some of its
Officers. The Court fully discharged all named defendants. The charge had
earlier been withdrawn by the Nigerian Immigration Service on the 20 April
(RNS Number: 9385W) and was in relation to the immigration status of Mr. Roger
Brown and the withdrawal of his immigration visa by the Ministry of Interior.

 

In addition, a new separate legal case, Boniface Okezie & 4 ors V. Seplat
& 9 ors (Suit No. FHC/ABJ/PET/8/2023), was brought before the Federal High
Court in Abuja.  The petition as advised by independent legal advisors, was
an unlawful duplication of the Petition already before the Federal High Court
in Lagos (Suit No. FHC/L/CP/402/2023 - Moses A. Igbrude & 4 ors v. Seplat
Energy Plc & 2 ors), where the Court recently vacated the Interim Orders
against the Chief Executive Officer and adjourned the case to 16 May 2023 -
please refer to the Company's Announcements of 10 March 2023 and 6 April
2023.)   The new case also included a request to restrain the Company from
holding its Annual General Meeting on 10 May 2023.

The Federal High Court did not accede to the request of Petitioners to grant
ex parte Interim Orders restraining the Company from holding its AGM. The
petition has been adjourned to 31 May 2023. As such, the Company's AGM will go
ahead as planned on 10 May 2023.

 

Seplat Energy refutes all allegations made in these petitions, which, given
their almost identical wording, are clearly part of an orchestrated attempt to
damage the Company in response to its efforts to improve corporate governance
by eliminating related party transactions and implementing other governance
initiatives.

 

This announcement is made pursuant to Rule 17.10 of the 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 Secretary  +234 1 277 0400

 

 FTI Consulting
 Ben Brewerton / Christopher Laing            +44 203 727 1000

                                              seplatenergy@fticonsulting.com (mailto:seplatenergy@fticonsulting.com)

 Citigroup Global Markets Limited
 Tom Reid / Luke Spells                       +44 207 986 4000

 Investec Bank plc
 Chris Sim / Charles Craven / Jarrett Silver  +44 207 597 4000

 

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/
(http://seplatenergy.com/)

 

 

 

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