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Seplat Energy PLC - Lagos-based oil and gas firm - Says that on August 8, it was served ex parte interim court orders, which were granted by the Federal High Court sitting in Lagos, Nigeria. These orders were part of a bankruptcy court action instituted by Access Bank PLC against Dr Orjiako, for the recovery of an outstanding loan amount that forms the judgment delivered by the High Court of the United Kingdom and registered in Nigeria as a judgment of the Federal High Court.
The orders restrain Seplat, as well as other companies, from dealing with the shares, investments, bonds, assets and funds belonging to Dr Orjiako, pending a hearing.
Seplat says it is not a judgment debtor under the UK judgment sought to be enforced, and adds there are no claims against the company in the bankruptcy proceedings. Says the orders have no impact on company operations.
Current stock price: 128.00 pence
12-month change: up 11.3%
By Holly Beveridge, Alliance News reporter
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