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RNS Number : 3162N
Seplat Petroleum Development Co PLC
23 September 2019
 

 

 

 

USeplat Petroleum Development Company Plc ("SEPLAT" or the "Company")

AAnnouncement on Notification of Dealing in Shares by a PDMR

 

Lagos and London - 23rd September 2019: The Company 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.

 

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 in the attached Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them. 

 

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.

 

 

 

Details of duly authorised officer of issuer responsible for making notification:

 

Edith Onwuchekwa, Company Secretary/Chief Governance Compliance Officer           +234 (0) 1 277 0400

 

 

 

 

 

 

 

 

Form for Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with Them:

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

 

Name

 

Dr. A.B.C. Orjiako

2

Reason for the notification

a)

 

Position/status

 

Chairman

b)

 

Initial notification /Amendment

 

Initial notification

 

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

 

Name

 

Seplat Petroleum Development Company Plc

b)

 

LEI

 

029200711C4S4CB2E982

4

 

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

 

Description of the financial instrument, type of instrument

Shares (NGSEPLAT0008)

 

 

Identification code

 

 

 

b)

 

Nature of the transaction

 

 

Sale of shares registered in the name of Vitol Energy Limited held for the benefit of Shebah Petroleum Development Company Limited ("Shebah BVI"), which is an entity controlled by Dr. A.B.C. Orjiako and members of his family.

 

Following the sale and transfer:

 

Direct Holdings: 877,501 ordinary shares are held directly by Dr. A.B.C. Orjiako;

 

Indirect holdings - 36,941, 021 ordinary shares, held by:

·      23,441,021 ordinary shares held by Shebah BVI (an entity controlled by Dr. A.B.C Orjiako and members of his family);

·      900,000 ordinary shares held by Pursley Resources Limited (an entity controlled by Dr. Orjiako's wife); and

·      12,600,000 ordinary shares held directly by Dr. A.B.C. Orjiako's siblings.

 

 

 

 

 

 

 

 

In the RNS of 5 August 2019, it was disclosed that Dr. Orjiako has a direct interest in 16,151,325 ordinary shares and an indirect interest in 26,300,000 ordinary shares of the Company.  The RNS should have stated that Dr. Orjiako has a direct interest in 877,501 ordinary shares and an indirect interest in 41,573,824.  The total number of shares of 42,451,325 remains unchanged. 

 

The difference of 15,273,824 ordinary shares are held by Shebah BVI and thus are not classified as a direct holding.

 

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

Volume(s)

 

 

 

1.0275GBP/share (Average Price)

1,500,000

 

 

 

1.0477GBP/share (Average Price)

1,332,803

 

 

 

1.05GBP/share (Average Price)

1,800,000

 

d)

 

Aggregated information

 

 

 

- Aggregated volume

4,632,803

 

 

- Price

1.035GBP/share (Average Price)

 

 

e)

 

Date of the transaction

 

17th September 2019

f)

 

Place of the transaction

London, United Kingdom

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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