This was stated in a ruling made by Justice Inyang Ekwo in the suit brought by the Petitioners/Applicants – Boniface Okezie, Bon. Bright Nwabuogwu, John Isesele, Okonkwo Timothy, and Augustine Ezechukwu, 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, Mrs. Edit Onwuchekwa (Company Secretary/Legal Adviser), and the Corporate Affairs Commission.
A Federal High Court in Abuja has stopped Nigeria’s energy giant company, Seplat Energy PLC, from holding its planned Annual General Meeting (AGM), slated for May 10, 2023.
This was stated in a ruling made by Justice Inyang Ekwo in the suit brought by the Petitioners/Applicants – Boniface Okezie, Bon. Bright Nwabuogwu, John Isesele, Okonkwo Timothy, and Augustine Ezechukwu, 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, Mrs. Edit Onwuchekwa (Company Secretary/Legal Adviser), and the Corporate Affairs Commission.
It is implied that the AGM could not take place until the next adjourned date of the suit, which is May 31, 2023.
The ruling was handed at the hearing of a Motion on Notice for interlocutory order restraining the directors (INEDs), being the Respondents in the suit, from holding the AGM.
However, the court further ordered that all the parties to the suits should be appropriately served before the matter could be heard after learning that some of the respondents had not yet been notified.
The Petitioners' attorney, Onuoha, informed the court that the matter was time-sensitive and asked for a court order preventing Seplat and the other Respondents from going beyond the scope of the Petitioners' claims.
“In the circumstance, we apply for an adjournment, but we urge the Court to warn the Respondents because our application is time-bound. The 2nd to 9th Respondents are in the process of convening an AGM. We urge the Court to warn them not to do anything to overreach them,” he stated.
Emphasising the order to maintain the current status of the situation pending the adjourned date, Justice Ekwo stated: “Chief Olanipekun (Counsel for Seplat), when the parties have submitted to Court, it is something you teach always that parties should hold themselves, restrain themselves from doing anything that will affect the res until the issues are resolved.”