Federal high court orders Seplat Energy Plc to hold AGM
Key Highlights
Federal High Court has delivered a final and binding Judgment, ordering the Company to hold its AGM on 10th May 2023.
The Judgment further restrains any current or former directors, shareholders, and officers of the Company from canceling or postponing the AGM as announced to the public.
The company said that in due compliance with the Law and the Judgment, its AGM will hold on 10th May 2023, as expressly ordered by the Federal High Court of Nigeria.
A Federal High Court sitting in Abuja has ordered Seplat Energy Plc to hold its Annual General Meeting.
The company made this known in a notice filed at the Nigerian Exchange Limited and obtained by Nairametrics, saying the order was given as judgement in Suit number FHC/ABJ/PET/7/2023 – Akinnifesi & Adelaja V. Seplat Energy Plc, which was presided over by Justice A.R. Mohammed.
The statement signed by Mr. Basil Omiyi, Board Chairman noted that the judgment further restrains any current or former directors, shareholders, and officers of the company from canceling or postponing the AGM as announced to the public.
“Seplat Energy, therefore, states that, in due compliance with the Law and the Judgment, its AGM will hold on 10th May 2023, as expressly ordered by the Federal High Court of Nigeria,” the company said.
What you should know
Seplat Energy Plc recently confirmed that its 2023 Annual General Meeting (AGM) scheduled for 10th May will hold as scheduled.
According to the statement signed by Mr. Basil Omiyi, the Board Chairman Seplat said it has become aware of certain media reports which seek to create the impression that the Federal High Court in Abuja has restrained the Company from holding its 2023 Annual General Meeting (AGM) in the duplicated petition of FHC/ABJ/PET/8/2023 – Boniface Okezie & 4 others V. Seplat Energy & 9 others.
The company noted that the media reports are a deliberate attempt to misinform the public and misrepresent the court proceedings, as the Court made no such order suspending the holding of the AGM.
“It is imperative to recall from the Company’s Announcement of 28 April 2023 that the Court did not grant the Petitioners’ request to restrain the Company from holding its AGM.
Seplat Energy is working within the purview of the law, with due reference to the Court, and has secured all required approvals. This announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule),” the company said.
There were media reports that the planned Annual General Meeting (AGM) by Nigeria’s energy giant, Seplat Energy Plc scheduled for 10th May has suffered a huge setback as the Federal High Court sitting in Abuja has ordered parties to suit number FHC/ABJ/PET/8/2023 not to tamper with the res until issues in the suit are resolved.
According to reports, the ruling was made by Justice Inyang Ekwo in the suit brought by Boniface Okezie, Bon. Bright Nwabuogwu, John Isesele, Okonkwo Timothy, and Augustine Ezechukwu, Petitioners/Applicants, against Seplat Energy Plc; company CEO, Mr. Roger Brown; Board Chairman, Mr. Basil Omiyi, as well as Independent Non-Executive Directors of the company, Dr. Charles Okeahialam, Prof. Fabian Ajogwu, Rabiu Bello, Mrs. Bashirat Odenewu, Emma Fitzgerald, Mrs. Edit Onwuchekwa (Company Secretary/Legal Adviser), and the Corporate Affairs Commission.
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Full Story: https://nairametrics.com/2023/05/09/federal-high-court-orders-seplat-energy-plc-to-hold-agm/
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