REG - Seplat PetDevCom Plc - Sealing of building at 16A Temple Road

Seplat EnergyAnnouncement

03/12/2020 15:05

RNS Number : 5019H
  
Seplat Petroleum Development Co PLC
  
03 December 2020
  
 

 
 
 
Seplat Petroleum Development Company Plc ("Seplat" or the "Company")
Sealing of building at 16A Temple Road
Lagos and London - 3rd December 2020: On 2nd December 2020, the building in which SEPLAT Corporate Headquarters is located, at 16A Temple Road, Ikoyi, Lagos, was sealed in connection with a court case by Access Bank against Cardinal Drilling Services Limited ("Cardinal Drilling"), a third party providing drilling services to SEPLAT. 
 
We understand that Cardinal Drilling has outstanding loan obligations to Access Bank. However, SEPLAT is neither a shareholder in Cardinal Drilling, nor has outstanding loan obligations or guarantees to Access Bank and did not at any time make any commitments or guarantees in respect of Cardinal Drilling's loan obligations to Access Bank. SEPLAT strongly believes that there is no merit or justification for this action against it and has taken prompt legal action to vacate the court order pursuant to which the building was sealed. This action was taken by Access Bank without any prior notice to SEPLAT, as required under Nigerian law. 
 
SEPLAT will vigorously defend against this improper action to the full extent of the law and will seek all appropriate legal remedies.
 
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For: Seplat Petroleum Development Company Plc
                                                                                                                                                                          
 
MRS. EDITH ONWUCHEKWA
Company Secretary and General Counsel
 
Enquiries:
 



Seplat Petroleum Development Company Plc 








Emeka Onwuka, CFO


+234 (01) 277 0400
 
 




Chioma Nwachuku, GM External Affairs and Communications


 
 




Edith Onwuchekwa, Company Secretary and General Counsel
 
 
 
Carl Frankl8in








FTI Consulting








Ben Brewerton / Sara Powell
 


+44 (0) 203 727 1000








seplat@fticonsulting.com 
 
 



 
Notes to editors
Seplat Petroleum Development Company Plc is a leading indigenous Nigerian energy company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds.  For further information please refer to the company website, http://seplatpetroleum.com/

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