Seplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR

Must Read

List of First Bank of Nigeria Sort Codes in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

Burger King Announces Grand Entry In To Nigerian Market, Promises First Restaurant In August 2021

Allied Food and Confectionary Services Limited announced exciting plans to launch and grow the Burger King® brand in Nigeria,...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Lagos and London – February 21, 2020: The Company received notification on February 21, 2020, of a transfer of 7,831,534 ordinary shares held by Platform Petroleum Limited (an entity in which Austin Avuru has an equity interest) to Professional Support Limited (an entity wholly controlled by Austin Avuru). Similarly, a transfer of 12,828,161 shares held directly by Platform Petroleum was made to certain shareholders of Platform Petroleum and they are therefore no longer considered to be connected persons. A further 95,933 LTIP awards for Austin Avuru were released to him and transferred to Professional Support on 24 January 2020.

Following these transfers, Platform Petroleum holds 20,000,000 shares (3.40%) and Professional Support holds 38,970,463 shares (6.62%); based on the Issued Share Capital of 588,444,561. Mr. Avuru now holds nil direct interest and indirect interest of 58,970,463 ordinary shares (10.02%) of N0.50k each of the Company.

As a result of the transfers, Mr. Avuru has now increased his equity interest in Platform Petroleum from 23% to 37.11% interest.

Further details of the transaction are set out in the attached Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them.

Read Also:  Stanbic IBTC Zero Balance Account Gives Savers an Edge
- Advertisement -

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.

- Advertisement -
Seplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand SpurSeplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Seplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand SpurSeplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand Spur

Latest News

How The Trump Plaza, Atlantic City, Came to be Demolished

It is not so often nowadays that a building is simply demolished, particularly not one of this scale. We...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Seplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand SpurSeplat Petroleum Development Company Issues Notification of Dealing in Shares by a PDMR - Brand Spur