The Federal High Court sitting in Lagos, has 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.
Basil Omiyi, Board Chairman announced this in a statement on Thursday.
Hr said that the case has been adjourned to May 16, 2023 for continuation of 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)”, the statement added.