Fakoyejo Olalekan
Seplat Energy has accused the persons behind several lawsuits against the firm of trying to stop the oil and gas firm from eliminating related party transactions.
The board of Seplat had said this while addressing an alleged interim court order against the company, which was reported on Thursday.
Join our WhatsApp ChannelAccording to the firm, in a statement released on Thursday, the petitioners are attempting to prevent the board from improving corporate governance in Seplat by restricting the chairman, Basil Omiyi and other executives from carrying out their responsibilities.
Seplat said new petitions against the firm keep surfacing after a judge ruled in the favour of the company in previous cases.
“This petition is a third in the series of duplicative petitions filed by purported minority shareholders between March and April 2023, as part of orchestrated attempts to damage the Company in response to its unrelenting efforts to improve corporate governance by eliminating related party transactions and implementing other corporate governance initiatives.”
Meanwhile, Seplat said it hasn’t received the interim court order that was reported. The order restricted Omiyi, Chief Operating Officer and the Company Secretary from carrying out their duties in the company.
“Seplat Energy is aware of certain media publications that the Federal High Court, per Hon. Justice I. E. Ekwo, sitting in Abuja in suit number FHC/ABJ/CS/626/2023 – Juliet Gbaka & 2 others v. Seplat Energy Plc & 13 others granted ex parte Interim Orders against Seplat Energy and some of its Officers.
“The Interim Orders, which are yet to be served on the Company or any of the affected Officers, primarily restrain the Board Chairman, the named Independent Non-Executive Directors, the Chief Operating Officer and the Company Secretary from operating or functioning as officers of Sepla t Energy in any capacity, or otherwise conducting the affairs of the Company.
“The Company, as a law-abiding entity, has defended against the Interim Orders by immediately filing an Appeal and a Motion for Stay of Execution of the Orders. Seplat Energy has been advised by its legal team that the Interim Orders, which are yet to be served on the Company or its officers, cannot be enforced until the Court of Appeal has heard and determined the Appeal and application for Stay of Execution,” Seplat said in the statement.
