Olusola Bello
The former managing director and chief executive officer of Seplat Energy plc, Austin Avuru, has fired back at his former employer, advising the general public to discountenance the firm’s publication of December 23, 2021, which he said was intended to malign him by stating that his appointment as a non-executive director of the company has been terminated.
Reacting to Seplat Energy Plc’s publication, lawyers to Mr Austin Avuru, Osaro Eghohamien, SAN, and Folabi Kuti, SAN, of Perchstone and Gracys, in a joint public statement dated December 23, 2021, titled, “Re: Change on the board of Seplat Energy plc- Austin Avuru,” stated that the company’s ostensible intent to terminate the services of its client and the subsequent publication was simply to play to public gallery. The statement further said that the real object of Seplat Energy plc’s publication was to do incalculable damage to their clients hard earned reputation.
“The company ostensible intent to terminate the services of our client and the subsequent publication was simply to play to public gallery. Its real object was to do incalculable damage to our client’s hard-earned reputation,” the statement noted.
The lawyers however assured Seplat Energy plc that they will immediately respond to fictitious allegation, and reserve their client’s right.
“We will immediately respond to fictitious allegation, and reserve our client’s right. The general public is hereby advised to discountenance Seplat Energy’s publication of December 23, 2021.”
The Public statement reads: “Our attention has been drawn to a publication issued by Seplat Energy plc (seplat energy/company) on December 23, 2021, clearly designed to malign Mr. Austin Avuru (our clent), and well-circulated on both the mainstream and social media. By the publication, Seplat Energy announced the termination of the contract of appointment of our client as its Non-Executive Director on December 22, 2021 due to alleged breach of company’s corporate governance policies and his fiduciary duties, and further called for his resignation as director of Seplat Energy.”
“Our client had taken a dignified position on the issue leading to the ill-advised action. This is clearly evidenced by Seplat Energy’s letter dated January 9, 2021, confirming our client’s dignified position, and urging our client to act with confidentiality, which is customary to our client’s impeccable character.
In a dramatic summersault and by a letter dated December22,2021, received by our client at about 6pm, Seplat Energy plc purports to terminate the appointment of our client from the board. This was followed by a public announcement the next morning without as much even giving out client the opportunity to respond to a letter, the content of which were otherwise grossly mischievous.”
“The company ostensible intent to terminate the services of our client and the subsequent publication was simply to play to public gallery. Its real object was to do incalculable damage to our clients hard-earned reputation.
We will immediately respond to fictitious allegation, and reserve our client’s right
The general public is hereby advised to discountenance Seplat Energy’s publication of December 23, 2021”
The Board of Seplat Energy on Wednesday announced the decision to terminate the contract of the appointment of Austin Avuru as a Non-Executive Director.
The statement reads: “The Board of Seplat Energy announces that it terminated the contract of appointment of Mr. Austin Avuru as a Non-Executive Director on 22nd December 2021, due to breaches of the Company’s corporate governance policies and his fiduciary duties. The Board has called for his resignation as a Director of Seplat Energy.
“In line with Seplat Energy’s Memorandum and Articles of Association, Platform Petroleum Limited has been asked to nominate a candidate for his replacement on the Board, and a further announcement will be made in due course.”
Avuru, the Founder and Executive Chairman of AA Holdings, was Managing Director of Platform Petroleum Limited.
In 2010, he became the pioneer CEO of Seplat Limited, as co-founder.
On July 31, 2020, Avuru retired as the Chief Executive Officer of Seplat Energy Plc, but remained on the board as a non-Executive Director.