Firm Warns Of Illegal Board Meeting Of Duport Midstream

The general public has been warned to disregard and discountenance the proposed meeting of the board of directors of Duport Midstream Company Limited (DMCL), same being illegal and in violation of the existing order of court.

A statement signed by Goke Oshunniyi, General Counsel, Platform Capital Investment Partners Limited, warned that the proposed meeting is illegal, null and void ab initio.

The firm warned that the status of Mrs. Mobolaji Kuku as an independent director and Chairman of Duport Midstream Company is subject of ongoing litigation in Suits Nos. FHC/L/CS/2320/2023 & FHC/L/CS/2343/2023.

It stated that Mrs. Kuku has no power whatsoever to call any such meeting or any Duport Midstream Company Limited meeting at all.

The firm warned that it shall take appropriate actions to seek legal redress in the event the illegal meeting occasions any adverse consequence on it.

The statement reads “Our attention has been drawn to 2 (Two) illegal Notices of Meeting of a purported Board of Directors of Duport Midstream Company Limited (hereinafter referred to as “Duport”) dated 4th April, 2024 and 27th April, 2024 respectively authored by an unnamed supposed Chairman, perceived to be one Mrs. Mobolaji Kuku, the removed Chairman, Board of Directors of Duport Midstream Company Limited.

“It is pertinent to state that the status of the aforesaid Mrs. Mobolaji Kuku as an independent director and Chairman of Duport Midstream Company is subject of ongoing litigation in Suits Nos. FHC/L/CS/2320/2023 & FHC/L/CS/2343/2023. Hence, Mrs. Kuku has no power whatsoever to call any such meeting or any Duport Midstream Company Limited meeting at all. The aforesaid removed Chairman has also hijacked the office of the company secretary by issuing notices ultra vires of the duties of a Chairman.

“Asides the above, the businesses proposed at the aforesaid proposed illegal meeting, particularly the appointment of new directors in place of the outgoing ones, is by Section 273(1) of the Companies and Allied Matters Act, 2020 reserved for shareholders at a general meeting: not Board meetings.

“Furthermore, the removal of Dr. Akintoye Akindele as a director of Duport Midstream Company Limited has been restrained pending the determination of Suit No. FHC/L/CS/2623/2023 by the Federal High Court, Lagos Division, coram Justice Aluko. His Lordship, Hon. Justice Aluko ordered that:

“That an Order of Interlocutory Injunction restraining the 1st Defendant/Respondent either by itself or through its agents, servants, privies, representatives or any person or whosoever is acting on its behalf from taking any steps towards removing the directors of the 1st Defendant/Respondent nominated to its board of directors by the 2nd Defendant/Respondent pending the hearing and determination of this suit”.

“Consequently, the aforesaid impending actions are not only illegal, null and void but also contemptuous as it constitutes an affront and disobedience of the court.

“We therefore urge the general public to disregard and discountenance the outcome of the aforesaid illegal meeting as same is null and void ab initio.

“Platform Capital Investment Partners Limited shall take appropriate actions to seek legal redress in the event the illegal meeting occasions any adverse consequence on it.