Hyginus Nnubia, a lawyer and one of the shareholders of Seplat Energy Plc, has filed a suit against the company before a Federal High Court in Lagos over Seplat’s alleged refusal to host the 2023 Annual General Meeting.
Barr. Nnubia, in his originating summons in the suit marked FHC/L/CS/484/2023, had asked the court for an order ordering the defendant to hold its 2023 AGM in May 2023, or any other time within the time permitted by the Companies and Allied Matters Act, 20720.
Nnubia had also asked the court to direct the company’s officers to render an account at the defendant’s AGM by showing the audited financial statements and announcing a dividend to the shareholders where the profits permit.
If the lawsuit is resolved in Nnubia’s favor, the lawyer will be permitted to ask the court to announce that the defendant (Seplat Energy) will be statutorily obligated to hold AGM every year in addition to any other meeting.
