Seplat Lists Additional 25m Shares on Nigerian Stock Exchange

By Modupe Gbadeyanka

Leading indigenous Nigerian oil and gas exploration and production company, Seplat Petroleum Development Company (Seplat) Plc, has announced listing additional shares on the floor of the Nigerian Stock Exchange (NSE).

A statement issued on Friday by the firm with a strategic focus on Nigeria disclosed that it’s listing an additional 25,000,000 ordinary shares on the NSE.

With this addition, the total number of the company’s share capital has increased to 588,444,561 ordinary shares of 50k each, all with voting rights.

“In exercise of the powers granted to the Board of Directors of the company, by the shareholders at the Annual General Meeting (AGM) held on June 30, 2014 to implement the IPO award and other remuneration of the top management and directors as disclosed in the IPO Prospectus, 25,000,000 ordinary shares of SEPLAT has been allotted to Stanbic IBTC Trustees Limited as Custodian in furtherance of the company’s Long Term Incentive Plan. These shares have also been formally listed on the Nigerian Stock Exchange.

“In light of the above, SEPLAT’s share capital now consists of 588,444,561 ordinary shares of N0.50k each, all with voting rights.

Therefore, the figure of 588,444,561 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in SEPLAT under the NSE Rules and the UK Market Abuse Regulations 2016,” the statement the Company’s Secretary, Dr Mirian Kene Kachikwu, said.

Seplat is an oil firm listed on both the Nigerian Stock Exchange and the London Stock Exchange (LSE). It is one of the major players in the Nigerian energy sector.

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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