Lekoil Ltd - London-based oil and gas exploration and production company with projects focused in Nigeria and West Africa - Must pay former Chief Executive Olalekan Akinyanmi GBP85,550 for costs, after final order from English court. The courts had declined to accept jurisdiction over a lawsuit brought by Lekoil against Akinyanmi for the recovery of USD1.5 million relating to a director loan. Payment is due on or prior to February 8.
The matter is also the subject of a lawsuit in New Jersey, by Akinyanmi against the company, and Lekoil has said it expects a hearing on the jurisdiction claims "in the very near future".
Current stock price: suspended at 0.95 pence
12-month change: down 49%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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