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Seplat Energy PLC - Lagos-based oil and gas company focused on Nigeria - Says High Court in Lagos, Nigeria vacates interim court order against Chief Executive Officer Roger Brown. The case has been adjourned to May 16 to continue hearing, allowing Brown to run the company again. In March, Seplat reported Brown had been barred from running the company for seven days, amid accusations of racism. Says the company maintains the petition filed by 5 persons claiming to be minority shareholders "lacks proper basis" and is premised on false allegations. Says it remains confident that the judicial process will address the circumstances appropriately and continues to engage the Nigerian interior ministry.
Current stock price: 103.50 pence, up 2.5%
12-month change: down 3.3%
By Greg Rosenvinge, Alliance News reporter
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