Court orders Seplat to hold AGM

The Federal High Court in Abuja has ordered Seplat Energy Plc to hold its Annual General Meeting on Wednesday (today).

Justice A.R. Mohammed, who made the order, restrained any current or former directors, shareholders and officers of the company from cancelling or postponing the AGM as announced.

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

Justice Mohammed, in his ruling, held that, “Terms of Settlement filed in the Registry of the court on 11th day of April 2023 and duly executed by the parties and their legal representatives, is hereby adopted as the consent judgment of the court between the parties in this suit as follows:

“The respondent shall hold its 2023 Annual General Meeting on the advertised date of 10th May 2023.

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

“The board of directors of the respondents shall ensure compliance.

“The respondents, including its present or former directors, shareholders, secretary or any other officer of the respondent howsoever called, whether acting jointly or individually, shall refrain from cancelling or postponing or taking any step towards cancelling or postponing the respondent’s 2023 AGM advertised and scheduled to hold on 10th May 2023.

“No person or group of persons including but not limited to the present or former director(s), 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.”

Responding to the judgment, Seplat Energy, in a statement by board chairman Basil Omiyi, said in due compliance with judgment, the AGM will hold (Wednesday) today.