A Federal High Court, sitting in Lagos, on Tuesday struck out a petition against Seplat Energy brought on 8th March 2023 by Moses Igbrude, Sarat Kudaisi, Kenneth Nnabike, Ajani Abidoye and Robert Ibekwe.
The petition had led to ex parte interim orders which ordered Mr. Roger Brown to step aside as the company’s Chief Executive Officer. However, the court later vacated the orders on 6th April.
At Tuesay’s hearing, the court, presided over by Justice Chukwujekwu Aneke was informed that the petitioners had prepared a Notice of Discontinuance dated 13th April 2023, which was filed five days later. The petitioners however delayed service on Seplat and its officers until Monday and Tuesday respectively.
Striking out the petition, Justice Aneke ordered the petitioners to pay N1 million as costs to Brown.
This judicial outcome follows Monday’s suspension by the Abuja Division of the Court of Appeal of the ex parte interim orders granted by the Federal High Court (Abuja) in Suit No. FHC/ABJ/CS/626/2023 – Juliet Gbaka and two others against Seplat Energy Plc and 13 others.
The Moses Igbrude Petition was the first in the successive line of petitions commenced against Seplat Energy between March and April 2023 by a combination of 13 minority shareholders holding less than 800 shares out of 589 million shares (or 0.0001% of the Company’s issued shares).
In a statement on Tuesday, Chairman of Seplat Energy, Mr. Basil Omiyi reiterated the company’s confidence in the Nigerian judiciary as it continues its systematic resolution of the litigations.
