Court Vacates the Interim Court Orders against Seplat Energy CEO

Seplat Energy has announced that, the Federal High Court sitting in Lagos, 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. The case has been adjourned to May 16, 2023, to continue the hearing.

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The announcement which was authorised for publication by Mr. Basil Omiyi, Independent Chairman, on behalf of the entire Board of Seplat Energy PLC, states that 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).