IN BRIEF: Seplat Petroleum Reopens Head Office In Lagos

Seplat Petroleum Development Co PLC - Nigerian oil & gas company - Says the Court of Appeal ...

Alliance News 22 January, 2021 | 4:58PM
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Seplat Petroleum Development Co PLC - Nigerian oil & gas company - Says the Court of Appeal sitting in Lagos has suspended the order made by the Lagos Federal High Court that led to the sealing of Seplat's corporate head office.

Back in December, the building in which Seplat's headquarters were located was sealed in connection with a court case concerning an outstanding loan to Access Bank PLC by Cardinal Drilling Services Ltd, a third-party providing drilling services to Seplat. Seplat says it is not a party to the loan agreement, security agreement or guarantees made by or on behalf of Cardinal Drilling to Access Bank, and did not provide any commitments or guarantees in respect of Cardinal Drilling's loan obligations to Access Bank.

Current stock price: 75.00 pence, up 0.8% on Friday

Year-to-date change: up 15%

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
SEPLAT Petroleum Development Company PLC 94.40 -
SEPLAT Petroleum Development Company PLC 620.00 -

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