Lekoil AGM Resolutions Passed; Chair Adegboyega Steps Down

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LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, announces that at the Company’s Annual General Meeting held earlier today, all resolutions put to the meeting were duly passed.

Resolution 8, a special resolution concerning the ability to allot securities on a non-pre emptive basis, was withdrawn and not put to shareholders.

At the AGM, the Non-Executive Chairman of the Company, Mr. Samuel Adegboyega, announced his planned retirement from the Board of Directors after nine years’ service and his role as Non-Executive Chairman after eight years in that position, effective as of close of business, 25 September 2020. Mr. Mark Simmonds, an existing Non-Executive Director, will assume the role of Non-Executive Chairman of the Board of Directors following the departure.

Lekoil AGM Resolutions Passed brandspurng Chair Adegboyega Steps Down
Samuel Adegboyega, Non-Executive Chairman

Samuel Adegboyega, outgoing Chairman of LEKOIL, commented: 

“It has been an honour to have been part of the LEKOIL story for the past nine years and as Non-Executive Chairman for the last eight. I have been part of the team guiding the Company from inception, through the IPO in 2013, its acquisition of the world class asset OPL 310, the record breaking development of the Otakikpo Marginal Field and the building of an enviable portfolio of oil and gas assets in Africa.

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It is with great pleasure and contentment that I step aside after a long service of stewardship. I have no doubt that the Board and indeed the Company will remain in great hands as it builds towards becoming a world leading exploration and production company.”

Mark Simmonds, incoming Chairman of LEKOIL, commented:

“On behalf of the Board of Directors, we would like to wish Samuel well as he retires after a long service to the Company and the wider industry. We thank him for his significant contribution to LEKOIL and we will miss his wisdom and leadership. We warmly wish him well in his retirement and all future endeavors.”

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