Seplat holds AGM today in compliance with court order

Seplat Energy Plc, will hold its scheduled Annual General Meeting (AGM) today in compliance with ruling of a Federal High Court sitting in Abuja, chairman of the Board Mr. Basil Omiyi, has assured.

Justice A.R. Mohammed, had yesterday restrained current or former directors, shareholders and officers of the company from cancelling or postponing the meeting.

He gave the judgment in a suit marked, FHC/ABJ/PET/7/2023 and filed by Akinduor Akinnifesi and Otugade Adelaja, with Seplat Energy as respondent.

Consequently, Mr. Omiyi in a statement said in due compliance with the law and the judgment, its AGM will hold on May 10, 2023, at 11a.m., as expressly ordered by the court.

According to him, the announcement on the AGM, “Is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange, 2015 (Issuer’s Rule).”

The suit before Justice Inyang Ekwo, was brought by Boniface Okezie, 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; Company Secretary/Legal Adviser, Mrs. Edith Onwuchekwa, and the Corporate Affairs Commission, CAC.

The court ordered that “Terms of settlement filed in the Registry of the Court on April 11, 2023, and duly executed by parties and their legal representatives, is hereby adopted as the consent judgment of the court between parties in this suit as follows:

“The respondent shall hold its 2023 AGM on the advertised date of May 10, 2023.

“The respondent shall give not less than 21 days’ notice of its 2023 AGM scheduled to hold on May 10, 2023, to the petitioners and all those entitled to receive such notice.

“The Board of Directors of the respondents shall ensure compliance with items i and ii.

” No person or group of persons including but not limited to present or former Director, Shareholder(s), and employee(s) of the respondent, whether acting jointly or individually, shall interfere or further interfere with the management and affairs of the respondent, except such intervention as may be determined or made during the AGM of the respondent.”