Seplat Energy Plc announces resignation of Austin Avuru as Non-Executive Director

Seplat Energy Plc has announced the resignation of Mr. Austin Avuru, as a Non-Executive Director from the Board of the company.

The announcement was made via a disclosure signed by the company’s secretary, Edith Onwuchekwa and filed with the Nigerian Exchange Limited.

Mr. Austin Avuru’s resignation is to take effect from March 1st, 2022. According to the company, in line with the provisions of the Company’s Memorandum and Articles of Association, his replacement will be nominated to the Board.

The disclosure suggested that Mr. Avuru has worked with Seplat Energy for a decade.

This comes after the company had released a notice on the 23rd of December 2021 of the termination of Mr. Avuru’s appointment from the Board of the company as Non-Executive Director, effective from December 22, 2021.

According to the notice, it stated that the reason for the termination of his appointment was due to breaches of the Company’s corporate governance policies and his fiduciary duties.

Mr. Avuru through his lawyers, Perchstone and Graeys, responded to the press release claiming that the purported termination was “clearly designed to malign Mr. Austin Avuru,” suggesting this was why the publication was circulated across social media and mainstream media platforms.