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Seplat Announces Closed Period

By Modupe Gbadeyanka

One of the leading indigenous Nigerian oil and gas exploration and production companies, Seplat Petroleum Development Company Plc, has announced a closed period for trading of its shares on the Nigerian Stock Exchange (NSE).

This is in preparation of the release of its financial statements for the period ended December 31, 2017.

Seplat is a firm with a strategic focus on Nigeria listed on the Main Market of both the London Stock Exchange (LSE) and the NSE.

The oil company, in a statement yesterday, said its closed period commenced on Sunday, December 31, 2017.

As a result of the development, those who have direct link with the company; employees, advisers and others, have been prohibited from trading in the shares of Seplat until the company’s earnings for last year is released to the investing public.

“Pursuant to Clause 17.2 of the Amendments to the Listings Rules (the Rules) of the Nigerian Stock Exchange (the Exchange), SEPLAT Petroleum Development Company Plc (SEPLAT) hereby notifies the Exchange of its closed period for the entire company, for trading in the company’s shares which commenced from December 31, 2017 to end on the day after the release of its Full Year 2017 Audited Financial Results for the period ended December 31, 2017 on the Exchange.

“Accordingly, no director, employee, person discharging managerial responsibility and adviser of the company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period,” a statement issued by the firm said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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