Lekoil Limited Provides Litigation update

Source: www.gulfoilandgas.com 6/27/2022, Location: Africa

LEKOIL, the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, provides the following update in respect of the claim by Mr Akinyanmi, in the Cayman Islands, seeking a declaration (amongst others) that the Share Allotment Resolutions passed at the Company's AGM on 21 December 2021 were ultra vires and void.

Mr Akinyanmi has applied to the Court to: (i) add Lekoil Nigeria as a Plaintiff; (ii) add the parties to the Convertible Facilities Agreements as Defendants; and (iii) for certain ancillary orders and directions necessary to give effect to (i) and (ii). The Court has consented to Mr Akinyanmi's application.


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