Seplat Petroleum Development Co PLC Sealing of building at 16A Temple Road (5019H)
04 December 2020 - 2:02AM
UK Regulatory
TIDMSEPL
RNS Number : 5019H
Seplat Petroleum Development Co PLC
03 December 2020
Seplat Petroleum Development Company Plc ("Seplat" or the
"Company")
Sealing of building at 16A Temple Road
Lagos and London - 3(rd) December 2020: On 2(nd) December 2020,
the building in which SEPLAT Corporate Headquarters is located, at
16A Temple Road, Ikoyi, Lagos, was sealed in connection with a
court case by Access Bank against Cardinal Drilling Services
Limited ("Cardinal Drilling"), a third party providing drilling
services to SEPLAT.
We understand that Cardinal Drilling has outstanding loan
obligations to Access Bank. However, SEPLAT is neither a
shareholder in Cardinal Drilling, nor has outstanding loan
obligations or guarantees to Access Bank and did not at any time
make any commitments or guarantees in respect of Cardinal
Drilling's loan obligations to Access Bank. SEPLAT strongly
believes that there is no merit or justification for this action
against it and has taken prompt legal action to vacate the court
order pursuant to which the building was sealed. This action was
taken by Access Bank without any prior notice to SEPLAT, as
required under Nigerian law.
SEPLAT will vigorously defend against this improper action to
the full extent of the law and will seek all appropriate legal
remedies.
- ENDS -
For: Seplat Petroleum Development Company Plc
MRS. EDITH ONWUCHEKWA
Company Secretary and General Counsel
Enquiries:
Seplat Petroleum Development Company Plc
Emeka Onwuka, CFO +234 (01) 277 0400
Chioma Nwachuku, GM External Affairs and Communications
Edith Onwuchekwa, Company Secretary and General
Counsel
Carl Frankl8in
FTI Consulting
Ben Brewerton / Sara Powell +44 (0) 203 727 1000
seplat@fticonsulting.com
Notes to editors
Seplat Petroleum Development Company Plc is a leading indigenous
Nigerian energy company with a strategic focus on Nigeria, listed
on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL)
and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT). Seplat is
pursuing a Nigeria focused growth strategy and is well-positioned
to participate in future divestment programmes by the international
oil companies, farm-in opportunities and future licensing rounds.
For further information please refer to the company website,
http://seplatpetroleum.com/
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END
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