*Says He Was Locked Out Of The 52nd AGM of MRS Oil Nigerian Plc
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Officials of Societe Nationale Petroliere de Cote D’Ivoire (PETROCI), have accused MRS of not allowing them to be physically present for the 52nd Annual General Meeting of MRS Oil Nigeria PLC, held Tuesday in Lagos.
The Director-General of Petroci, Dr Ibrahima Diaby, in his statement alleged that the security officers at the Civic Centre on Victoria Island, denied him and other representatives of the francophone firm access to the venue, which he alleged was an instruction by MRS.
Diaby said: “MRS should abide by the terms in the arbitral award, to which they already acknowledged and even demanded the account number of Petroci to pay the money into.
“We are writing to the Federal Government of Nigeria and SEC (Securities and Exchange Commission) to help look into this unfortunate incident of our being locked out of the AGM.
“MRS is discouraging genuine investors who earnestly desire to explore investment opportunities in Nigeria.”
However, MRS in its notice of AGM disclosed on the website, stated that the meeting will be held in strict compliance with government directive on COVID-19 and related guidelines, which means that physical participation would be limited.
It was also noted in the notice that MRS Company Secretary, Mrs O.M. Jafojo, stated in the notice that as an alternative for shareholders and other stakeholders not able to physically participate, the AGM was streamed live via the company’s website and on Youtube, so they could partake virtually in the AGM.
However, there is a lingering dispute between the two companies and Final award/decision of the Arbitral Tribunal was on 2th March and 21st June 2021 delivered.
The Societe Nationale Petroliere in Côte d’Ivoire (Petroci) was founded in 1975 and was restructured in 1998 into a holding company, Petroci Holding, with three subsidiaries: Petroci Exploration-Production which handles upstream gas and oil activities; Petroci Gaz, which is responsible for the natural gas sector; and Petroci Industries-Services which manages all other related services.
Petroci Holding manages the three subsidiaries as well as the country’s holdings in the gas and oil sectors.
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