Court strikes out Criminal Charge

Seplat Energy PLC

28 April 2023

 

Seplat Energy Plc

("Seplat Energy" or the "Company")

Court strikes out Criminal Charge & declines Interim Orders sought in duplicated petition

Lagos and London - 28 April 2023: Seplat Energy is pleased to announce that, today, the Federal High Court in Abuja formally struck out the criminal charge brought by the Nigeria Immigration Service against the Company and some of its Officers. The Court fully discharged all named defendants. The charge had earlier been withdrawn by the Nigerian Immigration Service on the 20 April (RNS Number: 9385W) and was in relation to the immigration status of Mr. Roger Brown and the withdrawal of his immigration visa by the Ministry of Interior.

In addition, a new separate legal case, Boniface Okezie & 4 ors V. Seplat & 9 ors (Suit No. FHC/ABJ/PET/8/2023), was brought before the Federal High Court in Abuja.  The petition as advised by independent legal advisors, was an unlawful duplication of the Petition already before the Federal High Court in Lagos (Suit No. FHC/L/CP/402/2023 - Moses A. Igbrude & 4 ors v. Seplat Energy Plc & 2 ors), where the Court recently vacated the Interim Orders against the Chief Executive Officer and adjourned the case to 16 May 2023 - please refer to the Company's Announcements of 10 March 2023 and 6 April 2023.)   The new case also included a request to restrain the Company from holding its Annual General Meeting on 10 May 2023.

The Federal High Court did not accede to the request of Petitioners to grant ex parte Interim Orders restraining the Company from holding its AGM. The petition has been adjourned to 31 May 2023. As such, the Company's AGM will go ahead as planned on 10 May 2023.

Seplat Energy refutes all allegations made in these petitions, which, given their almost identical wording, are clearly part of an orchestrated attempt to damage the Company in response to its efforts to improve corporate governance by eliminating related party transactions and implementing other governance initiatives.    

This announcement is made 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	[phone]

FTI Consulting
Ben Brewerton / Christopher Laing	[phone] [e-mail]
Citigroup Global Markets Limited
Tom Reid / Luke Spells	[phone]
Investec Bank plc
Chris Sim / Charles Craven / Jarrett Silver	[phone]

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/

 

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