Islamabad High Court

Tingo Group Issues Response Into Further Allegations Made Against the Company by Short-Seller

Retrieved on: 
Friday, September 1, 2023
Insurance, Internet, Farmer, Tingo District, UGC, Glo (company), Hindenburg Research, Quarter, Electronics, USSD, TIO, Caterpillar, Chairperson, Communications and Utilities Regulatory Authority, Federal High Court of Nigeria, Record, Financial statement, Government, WAP, Documentation, Trustee, Edo, Nigerian Communications Commission, Q&A, Bank statement, Nigerian naira, Dala, Sale, Movement, DMCC, Islamabad High Court, Lifting, City, Kebbi State, Cryptocurrency, Online shopping, Mobile phone, Rare-earth element, Bharti Airtel, MTN

MONTVALE, N.J., Sept. 01, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company, today issues a response to further allegations made by short seller Hindenburg Research (“Hindenburg”) on August 31, 2023.

Key Points: 
  • MONTVALE, N.J., Sept. 01, 2023 (GLOBE NEWSWIRE) -- Tingo Group, Inc. (NASDAQ: TIO) (“Tingo” or the “Company”), a profitable and fast growing fintech, agri-fintech and food company, today issues a response to further allegations made by short seller Hindenburg Research (“Hindenburg”) on August 31, 2023.
  • Thereafter, as part of its own investigation into the Hindenburg allegations, outside counsel followed up on the items identified by independent counsel.
  • The Company holds accounts with two banks in Africa, one of which is a multi-national bank with offices in the U.S., the U.K. and Europe.
  • In addition, tax payments totaling $174.0 million were made for Tingo Mobile on its taxable earnings for fiscal year 2022.

How Imran Khan's populism has divided Pakistan and put it on a knife's edge

Retrieved on: 
Wednesday, May 10, 2023
Pakistan Muslim League (N), Arrest, Violence, Court of cassation, Politics, Inter-Services Intelligence, Intelligence, Anger, High court, Government, Stoke, Violent Reaction, Toshakhana, Islamabad High Court, Police, Democratic Alliance, City, Muslim League, Corruption, Social media, Mail, Tea, Drug, Film industry

Pakistan’s political crisis has worsened significantly since Khan lost a no-confidence motion in parliament and was ousted from power last April.

Key Points: 
  • Pakistan’s political crisis has worsened significantly since Khan lost a no-confidence motion in parliament and was ousted from power last April.
  • Since then, Khan’s populist rhetoric has stoked divisions in society, leading to extreme polarisation and the violent reactions we’ve seen this week.

Khan takes on the military

    • Khan wanted the then-chief of the agency, General Faiz Hameed, to continue in the role, while the military wanted someone else.
    • The military establishment issued a statement accusing Khan of fabricating the allegations.
    • Read more:
      Shooting of Imran Khan takes Pakistan into dangerous political waters

Graft allegations from the new government

    • Read more:
      What's the dispute between Imran Khan and the Pakistan government about?
    • In the so-called “Toshakhana case”, the government accused Khan and his wife of corruption for illegally keeping gifts given to them by other countries.
    • The case refers to the Toshakhana department in the government responsible for storing expensive gifts given to public officials.
    • Although the government has tightly controlled the mainstream media, Khan’s party has reached its supporters through social media to stoke dissent.

Khan’s arrest sparks violence

    • Khan’s lawyers challenged the legality of the arrest, but the High Court upheld it.
    • Within hours of the arrest, party workers and supporters gathered in many major cities and began openly attacking key military buildings.
    • It is very likely the protests will continue – and with that, increasing levels of violence – until Khan is released.

EQS-News: ADM Energy PLC: Further re: Barracuda and Interim Injunction

Retrieved on: 
Thursday, February 2, 2023
ACT, EUROPEAN UNION, Islamabad High Court, AIM, Formal proof, FSE, OF, THIS, Barracuda, ADME, Court, Security (finance)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).

Key Points: 
  • THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
  • UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
  • ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural-resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
  • The interim injunction continues to stand in the meantime and a further update will be made in due course.

DGAP-News: ADM Energy PLC: Further re: Barracuda and Interim Injunction

Retrieved on: 
Friday, July 1, 2022
ACT, AIM, Islamabad High Court, Court, EUROPEAN UNION, FSE, ADM, Company, OF, Formal proof, THE, Natural Resources, ADME, THIS, Barracuda, Private investigator

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Key Points: 
  • UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
  • ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
  • If no agreement can be reached that will satisfy the Company's demands, ADM will await the Court's final determination of the suit.
  • The interim injunction continues to stand in the meantime and a further update will be made in due course.

DGAP-News: ADM Energy PLC: Full Year Results

Retrieved on: 
Thursday, June 23, 2022
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This temporary suspension is a necessary step to ensure future production is not limited by FPSO capacity and production issues.

Key Points: 
  • This temporary suspension is a necessary step to ensure future production is not limited by FPSO capacity and production issues.
  • In April 2021, ADM completed the acquisition of an indirect interest in a Risk Sharing Agreement ("RSA") for the development of the Barracuda Field.
  • Xodus calculated gross, unrisked Prospective Resources for the RSA using standard geological and engineering approaches applied to the data made available by ADM.
  • In addition, and as part of its investment strategy, ADM remains open to potential renewable energy investments, primarily in Europe, if there is an opportunity to bring additional value to shareholders.

DGAP-News: ADM Energy PLC: Barracuda Oil Field: Interlocutory Injunction Granted

Retrieved on: 
Friday, May 6, 2022
ACT, THIS, AIM, Company, Defendant, EUROPEAN UNION, Formal proof, Barracuda, Court, OF, ADM, ADME, FSE, Islamabad High Court, THE, Security (finance), Risk management, Private investigator, Online gambling, Plaintiff

UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Key Points: 
  • UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
  • ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural-resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
  • The Plaintiffs have shown that there will be irreparable loss if the interlocutory injunction is not granted against the Defendant.
  • The interlocutory injunction is firmly in place and a further update will be made in due course.

LEKOIL NIGERIA SECURES COURT INJUNCTION AGAINST LEKOIL LIMITED AND SAVANNAH ENERGY INVESTMENTS LIMITED, A SUBSIDIARY OF SAVANNAH ENERGY PLC

Retrieved on: 
Wednesday, April 6, 2022
Company, Extraordinary general meeting, Option, Board, Ownership, Islamabad High Court, South Tyrol Option Agreement, AIM, Security (finance), Lekoil

LAGOS, Nigeria, April 6, 2022 /PRNewswire/ --Following the announcement of 28 February 2022 by Lekoil Limited that it had entered into an agreement with Savannah Energy Investments Limited, a subsidiary of Savannah Energy PLC, Lekoil Nigeria Limited, joined by a number of third-parties including Lekoil Oil & Gas Investments Limited, Mayfair Assets & Trust Limited, Lekoil 276 Limited and Lekoil Exploration & Production Nigeria Limited, has sought and been granted an injunction in the Federal High Court of Nigeria against Lekoil Limited and Savannah Energy Investments Limited restraining them from taking any steps in furtherance of the transfer of any interests in oil and gas assets of Lekoil Nigeria Limited and the transfer or creation of any interest in Lekoil Nigeria Limited, that will alter the ownership, equity or share capital structure of Lekoil Nigeria Limited.

Key Points: 
  • LAGOS, Nigeria, April 6, 2022 /PRNewswire/ --Following the announcement of 28 February 2022 by Lekoil Limited that it had entered into an agreement with Savannah Energy Investments Limited, a subsidiary of Savannah Energy PLC, Lekoil Nigeria Limited, joined by a number of third-parties including Lekoil Oil & Gas Investments Limited, Mayfair Assets & Trust Limited, Lekoil 276 Limited and Lekoil Exploration & Production Nigeria Limited, has sought and been granted an injunction in the Federal High Court of Nigeria against Lekoil Limited and Savannah Energy Investments Limited restraining them from taking any steps in furtherance of the transfer of any interests in oil and gas assets of Lekoil Nigeria Limited and the transfer or creation of any interest in Lekoil Nigeria Limited, that will alter the ownership, equity or share capital structure of Lekoil Nigeria Limited.
  • authorising theDirectors to allot and issue fully paid ordinary shares up to an aggregate number of 151,755,547, which is approximately 20 per cent (20%) of the Company's current issued ordinary share capital.
  • The Board of Lekoil Nigeria is delighted that the injunction has been granted, prohibiting a substantially dilutive issuance of equity and an option agreement with Savannah Energy Investments Limited which would have denied shareholders of significant value.
  • Lekoil Nigeria Limited is an oil and gas exploration and production company with a focus on Nigeria and West Africa, in which Lekoil Limited (AIM: LEK) (the "Company") has a 40% equity interest.

LEKOIL NIGERIA SECURES COURT INJUNCTION AGAINST LEKOIL LIMITED AND SAVANNAH ENERGY INVESTMENTS LIMITED, A SUBSIDIARY OF SAVANNAH ENERGY PLC

Retrieved on: 
Wednesday, April 6, 2022
Company, Extraordinary general meeting, Option, Multimedia, Board, Ownership, View, Islamabad High Court, South Tyrol Option Agreement, AIM, Security (finance), Lekoil

LAGOS, Nigeria, April 6, 2022 /PRNewswire/ --Following the announcement of 28 February 2022 by Lekoil Limited that it had entered into an agreement with Savannah Energy Investments Limited, a subsidiary of Savannah Energy PLC, Lekoil Nigeria Limited, joined by a number of third-parties including Lekoil Oil & Gas Investments Limited, Mayfair Assets & Trust Limited, Lekoil 276 Limited and Lekoil Exploration & Production Nigeria Limited, has sought and been granted an injunction in the Federal High Court of Nigeria against Lekoil Limited and Savannah Energy Investments Limited restraining them from taking any steps in furtherance of the transfer of any interests in oil and gas assets of Lekoil Nigeria Limited and the transfer or creation of any interest in Lekoil Nigeria Limited, that will alter the ownership, equity or share capital structure of Lekoil Nigeria Limited.

Key Points: 
  • LAGOS, Nigeria, April 6, 2022 /PRNewswire/ --Following the announcement of 28 February 2022 by Lekoil Limited that it had entered into an agreement with Savannah Energy Investments Limited, a subsidiary of Savannah Energy PLC, Lekoil Nigeria Limited, joined by a number of third-parties including Lekoil Oil & Gas Investments Limited, Mayfair Assets & Trust Limited, Lekoil 276 Limited and Lekoil Exploration & Production Nigeria Limited, has sought and been granted an injunction in the Federal High Court of Nigeria against Lekoil Limited and Savannah Energy Investments Limited restraining them from taking any steps in furtherance of the transfer of any interests in oil and gas assets of Lekoil Nigeria Limited and the transfer or creation of any interest in Lekoil Nigeria Limited, that will alter the ownership, equity or share capital structure of Lekoil Nigeria Limited.
  • The Board of Lekoil Nigeria is delighted that the injunction has been granted, prohibiting a substantially dilutive issuance of equity and an option agreement with Savannah Energy Investments Limited which would have denied shareholders of significant value.
  • Lekoil Nigeria Limited is an oil and gas exploration and production company with a focus on Nigeria and West Africa, in which Lekoil Limited (AIM: LEK) (the "Company") has a 40% equity interest.
  • For further information, please visit: www.lekoil.com
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DGAP-News: ADM Energy PLC: Further re: Barracuda and Interim Injunction

Retrieved on: 
Saturday, March 5, 2022
ACT, Formal proof, FSE, THIS, EUROPEAN UNION, Natural Resources, Islamabad High Court, Court, Company, ADME, Barracuda, THE, OF, AIM, Private investigator

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).

Key Points: 
  • THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
  • UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
  • ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on the legal proceedings in respect of its interest in the Barracuda oil field.
  • The interim injunction continues to stand in the meantime and a further update will be made in due course.

DGAP-News: Further re: Barracuda Oil Field

Retrieved on: 
Monday, December 20, 2021
Court, ADME, ADM, AIM, Natural Resources, Ownership, OML, NW, Barracuda, FSE, Islamabad High Court, Life insurance

ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on recent developments concerning its indirect interest in a risk sharing agreement in the Barracuda oil field in OML 141 in Nigeria.

Key Points: 
  • ADM Energy PLC (AIM: ADME; BER and FSE: P4JC), a natural resources investing company, provides an update on recent developments concerning its indirect interest in a risk sharing agreement in the Barracuda oil field in OML 141 in Nigeria.
  • As previously announced on 23 and 29 November 2021, K.O.N.H.
  • In the above regard, ADM and KONH instigated proceedings against NHNL at the Federal High Court of Nigeria, Lagos.
  • The Court has been asked, inter alia, to determine KONH's rights to its 70% interest in NHNL and all other related matters.