Lekoil Limited Litigation update (2031Q)

TIDMLEK

RNS Number : 2031Q

Lekoil Limited

27 June 2022

27 June 2022

Lekoil Limited

("LEKOIL" or the "Company")

Litigation update

LEKOIL (AQSE: LEK), 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. 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

For further information, please visit www.lekoilplc.com or contact:

 
First Sentinel Corporate Finance Ltd (AQSE 
 Corporate Adviser) 
 Brian Stockbridge                                [phone] 
Tennyson Securities (Broker) 
 Peter Krens                                      [phone] 
                                              -------------------- 
Camarco (Financial PR Advisor) 
 Billy Clegg / Owen Roberts / Violet Wilson       [phone] 
                                              -------------------- 
 

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June 27, 2022 02:00 ET (06:00 GMT)