The Federal High Court in Abuja has suspended the ex parte Interim Orders against Seplat Energy and its Officers in suit number FHC/ABJ/CS/626/2023 and adjourned pending applications to May 30 for hearing.
According to a statement signed by Basil Omiyi, independent chairman, Seplat, the court suspended the ex parte Interim Orders granted on May 11, 2023 by Justice I.E. Ekwo of the Federal High Court, Abuja in suit number FHC/ABJ/CS/626/2023-Juliet Gbaka & 2 others v. Seplat Energy Plc & 13 others, and served on the Company on May 12, 2023.
As previously announced, the interim orders were made pursuant to a petition which was the third in a series of duplicative petitions filed by minority shareholders between March and April 2023, the statement said.
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“The Interim Orders primarily restrained the Board Chairman, named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Seplat Energy in any capacity, or otherwise conducting the affairs of the Company, and directed the Securities & Exchange Commission to appoint suitable persons to run the affairs of the Company,” it said.
“Seplat Energy remains confident that the courts will appropriately address the frivolous litigations brought by a combination of 13 minority shareholders holding less than 800 shares out of 589 million shares (or 0.0001 percent of the Company’s issued shares).”
According to Seplat, this announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule).
