Seplat: Austin Avuru Reacts To Termination Of Position As Director

Founder and former MD/CEO of Seplat, Austin Avuru has responded to a statement from Seplat Plc that claimed that his position as non-executive director has been terminated

Avuru in a statement by his lawyer, Osaro Eghobamien, (SAN) and Folabi Kuti (SAN) of Perchstone and Graeys, said the general public should discredit the statement by the company which was designed to ‘malign’ his person.

Avuru’s lawyer said: “Our attention has been drawn to a publication issued by Seplat Energy Plc. (Seplat Energy/ the Company) on December 23, 2021, clearly designed to malign Mr Austin Avuru (our client), and well-circulated on both the mainstream and social media.” 

Reports had alleged that the Board of Seplat Energy Plc had terminated Avuru’s appointment as a non-executive director of the company over what it described as “breaches of the company’s corporate governance policies and his fiduciary duties”.

Recall that Edith Onwuchekwa, Director, Legal and Company’s Secretary at Seplat, announced the sack in a corporate filing last Thursday.

The development came a month after Bryant Orjiako, Chairman of Seplat Energy Plc, said he would exit his position in 2022.

The statement, read further that Platform Petroleum Limited, which operates as an integrated oil and gas production, processing, and marketing chain, would nominate a candidate that will serve in Avuru’s stead.

According to it, “In line with Seplat Energy’s Memorandum and Articles of Association, Platform Petroleum Limited has been asked to nominate a candidate for his replacement on the board, and a further announcement will be made in due course.”

The Avuru’s lawyer, however,  in a statement obtained by Prime Business Africa, exonerated him from the accusations by the company and said it is a plot to damage his reputation.

The Public Statement for Mr. Austin Avuru-23.12.21 read: “Our client has taken a dignified position on the issues leading to the ill-advised action. This is clearly evidenced by Seplat Energy’s letter dated January 9, 2021, confirming our client’s dignified position, and urging our client to act with confidentiality, which is customary to our client’s impeccable character.

“In a dramatic summersault and by letter dated December 22, 2021, received by our client at about 6 pm, Seplat Energy purports to terminate the appointment of our client from the Board.

“This was followed by a public announcement the next morning without as much even giving our client the opportunity to respond to a letter, content of which were otherwise grossly mischievous.”