REG - Seplat Energy PLC - Court Vacates Interim Court Orders Against CEO

Seplat EnergyAnnouncement

06/04/2023 14:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230406:nRSF6717Va&default-theme=true

RNS Number : 6717V  Seplat Energy PLC  06 April 2023

Seplat Energy Plc

("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 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/)

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSSMFEMEDSELL