REG - Seplat Energy PLC - Interim Court Orders Update

Seplat EnergyAnnouncement

10/08/2023 12:45

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RNS Number : 9752I  Seplat Energy PLC  10 August 2023

 

 

 

 

Seplat Energy Plc

("Seplat Energy" or the "Company")

 

Interim Court Orders to Seplat in the bankruptcy action by Access Bank Plc
against Dr. A.B.C Orjiako.

 

Lagos and London - August 10,  2023: Seplat Energy announces that on 8(th)
August 2023, the Company was served with ex parte Interim Court Orders which
were granted by the Federal High Court sitting in Lagos, Nigeria in a
bankruptcy court action instituted by Access Bank Plc against Dr. A.B.C
Orjiako, for the recovery of an outstanding loan amount that forms the
judgment delivered by the High Court of the United Kingdom and registered in
Nigeria as a judgment of the Federal High Court.

The Interim Orders restrain Seplat Energy and other companies / financial
institutions from dealing with the shares, investments, bonds, assets and
funds belonging to Dr. Orjiako (whether held by him directly or via proxy),
which are in the custody of Seplat or any financial institution, pending the
hearing and final determination of Access Bank's motion for the appointment of
a Special Manager.

Seplat Energy is not a judgment debtor under the UK judgment sought to be
enforced. There are no claims against the Company in the bankruptcy
proceedings, and the Orders have no impact on the operations of Seplat Energy.

-  ENDS  -

Signed:

 

 

 

Mrs. Edith Onwuchekwa

Director Legal/Company Secretary

 

 

Enquiries:

 

   Emeka Onwuka, Chief Financial
 Officer
 +234 1 277 0400

 Chioma Afe, Director External Affairs and
 Sustainability
  +234 1 277 0400
 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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