Lagos and London – 23rd September 2019: The Company, Seplat Petroleum Development Company Plc, received notification of a transfer of 4,632,803 ordinary shares registered in the name of Vitol Energy Limited. The sale relates to the Deed of Share Charge entered into between Shebah Petroleum Development Company Limited (“Shebah BVI”, an entity controlled by Dr. A.B.C. Orjiako and members of his family) and Vitol S.A. as disclosed by RNS on 27 May 2015. The remaining 8,167,197 shares held by Vitol Energy Limited will now transfer back to Shebah BVI.
The remaining 8,167,197 shares held by Vitol Energy Limited will now transfer back to Shebah BVI.
After the sale, Dr. A.B.C. Orjiako holds a direct interest in 877,501 ordinary shares and together with family members, an indirect interest in 36,941,021 ordinary shares, totalling 37,818,522 (6.43%) ordinary shares of N0.50k each of the Company, based on the Issued Share Capital of 588,444,561. (see Note 4b of the attached form for more details).
Further details of the transaction are set out below while this notification is made in accordance with Rule 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and Article 19 of the EU Market Abuse Regulations.
Form for Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with Them:
