According to him, it is not a good sign for corporate governance. They participate in particular in security, ergonomics and the choice of language of the website. This article examines the events that have caused internal crises and legal battles at Seplat, a Nigerian oil and gas company, and discusses the resulting effects on its operations and reputation. Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. Seplat Petroleum Development Company - AnnualReports.com When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. The company employs 528 workers across the globe. SEPLAT At the same time, Seplat filed a suit with No FHC/ABJ/CS/386/2023, at the Federal High Court Abuja, on March 21, 2023, accusing Dr. Orjiako of acting unilaterally when he communicated with the Federal Government over a business transaction worth over $300 million, allegedly without the consent of the companys Board of Directors. 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Please log in to your account or sign up in order to add this asset to your watchlist. This employer has not claimed their Employer Profile and is missing out on connecting with our community. The ex-dividend date is Wednesday, May 17th. 326 E 8th St #105, Sioux Falls, SD 57103 Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos Off Adeola Odeku Street, Victoria Island Seplat Energy PLC SEPLAT Ownership - XNSA By continuing your browsing on this website, you agree to the use of cookies in order to optimize the functionality of the maureletprom.fr website through the production of anonymous and statistical data. The Commissions attention has been drawn to the recent reports in the media regarding Seplat Energy Plc (Seplat), a public companylisted onthe Nigerian Exchange Limited (NGX)and the London Stock Exchange (LSE). Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new Seplat Petroleum Development Company - Wikipedia They too, get it wrong sometimes. WebThe Group has a portfolio of high - potential assets focused on Africa and Latin America, consisting of both production assets and opportunities in the exploration or appraisal phase. .uniq_1764707858073873 { Following the request, the State High Court issued an ex-parte order of interim injunction, which prohibited the defendants from finalizing any divestment in MPNU, including the sale and purchase agreement (SPA) signed with Seplat Energy Offshore Limited, while the case was pending before the court. The AFL admits its umpires erred in not awarding Nathan Murphy a free kick after he was clattered by Adelaide's Darcy Fogarty while failing to enforce the blood rule.Murphy was positioned under a high ball in the last quarter of the Magpies' thrilling win on Saturday when Fogarty crashed into him, front-on. Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. With 14% and 9.0% of the shares outstanding respectively, Petrolin Group and Sustainable Capital Ltd are the second and third largest shareholders. Stockholders of record on Wednesday, May 17th will be given a dividend of GBX 0.03 per share on Friday, June 16th. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". Kano It was reported that by mid-morning on February 25 after Seplats announcement of the sale and purchase agreement with MPNU, Seplats share price rose from 93 pence to 105.5 pence ($1.24 to $1.41) on the London Stock Exchange. Learn how it impacts everything we do. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Fraser McReight concedes he may still be the apprentice but says "master" Michael Hooper might be taking some notes of his own when the flankers clash in Townsville.McReight's Queensland Reds will host the NSW Waratahs on Saturday in a Super Rugby Pacific match of consequence, with the rivals sitting clear in sixth and seventh positions respectively and keen to move away from the chasing pack. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. The companys share price in the last year is down 7% and 19.1% respectively on the NGX and the London Stock Exchange respectively. It also benefited from a USD350 View the best growth stocks for 2023 here. This might be a strategic stake, so it's worth watching this space for changes in ownership. We can report that insiders do own shares in Seplat Energy Plc. In their own names, insiders own UK17m worth of stock in the UK584m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. Meanwhile, the company will embark on a recruitment process to select a new Board Chairman and establish a new level of corporate governance as the company works to resolve all pending legal issues as well as its acquisition of MPNU assets. Seplat Petroleum Development is not owned by hedge funds. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. Seplat has also faced corporate governance controversies, including payments to companies associated with its founders, and a lawsuit accusing former Chairman ABC Orjiako of acting unilaterally and demanding $5 billion in damages. Exposure to Nigerian Banks Reduced: As a general policy, the company usually retains around 70% of its total cash in US dollars and around 70% of the US dollar cash is held offshore. var size='300x250', Maurel & Prom is an oil and gas exploration and production company listed on the regulated market of Euronext Paris.With a history of almost two centuries, Maurel & Prom has, both at its headquarters in Paris and in its subsidiaries, a solid technical expertise and a long operational experience, especially in Africa. When such a trade goes wrong, multiple parties may compete to sell stock fast. 5b Isaiah Odolu Street, GRA phase 2 The plan involves the retirement of Mr Basil Omiyi as Board Chairman, as well as the retirement of Senior Independent Non-Executive Director (SINED), Dr Charles Okeahalam before the companys Annual General Meeting in May 2024. He refuted the Presidents approval. In line with its core mandate of investor protection, the Commission has sought and obtained explanations from Seplat through its Board of Directors and from the NGX,the primary exchange on which it is listed. In September 2022, Bloomberg reported that Seplat Energy spent over $450 million on goods and services provided by companies linked to its two founders between 2010 and 2021. click here to see if those insiders have been buying or selling. It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. Brisbane will be without veterans Dayne Zorko and Daniel Rich for their huge clash with Carlton, while Port Adelaide midfielder Xavier Duursma has been sidelined for up to 10 weeks with a knee injury.The Lions' big win over Fremantle came at a cost with Zorko straining his hamstring and Rich suffering a calf strain, with the pair sidelined for three weeks through injury. Cookies necessary to ensure the optimal functioning of our website. Institutional investors commonly compare their own returns to the returns of a commonly followed index. In their own names, insiders own UK8.1m worth of stock in the UK297m company. Many look for medium term catalysts that will drive the share price higher. What other stocks do shareholders of Seplat Energy own? SEPLAT Governance structure | Our governance | Our company | Seplat This article by Simply Wall St is general in nature. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. A man is due to face a court over his alleged involvement in the execution-style murder of a Sydney underworld figure.Mahmoud Ahmad was killed in a spray of bullets fired from several cars as he stood outside a friend's house in April 2022. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. Who are the major shareholders and have insiders been buying or selling? Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. this free report showing whether analysts are predicting a brighter future, New lower I bond rate comes with 'a pleasant surprise', Lordstown warns it may fail as investor Foxconn gets jumpy, Fed says new refinements of trading process are coming, Investors continue to think that the Fed will bail us out of every situation, strategist says, UPDATE 1-Fed says new refinements of trading process are coming. On Tuesday, April 25, Seplat Energy Plc which is listed on both the Nigerian Exchange Limited and the London Stock Exchange, announced a Boardroom succession plan that will help the company move on from recent challenges and strengthen corporate governance. WebAs you can see in the diagram, the ownership structure in this company have institutional shareholders with 65.05% of the company ownership, retail shareholders at 13.17%, sovereign wealth funds at 10.47%, foundations (or founder) at 5.20% and others at 6.11%. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Copyright 2019, Securities & Exchange Commission, Nigeria. We can see that Seplat Energy does have institutional investors; and they hold a good portion of the company's stock. Our data reflects individual insiders, capturing board members at the very least. Sky Sports News on Twitter: "Aston Villa CEO, Christian Purslow Concerned about the content? Meanwhile, On July 11, 2022, Seplat announced that the Nigerian National Petroleum Company Limited (NNPCL) had initiated legal action in the State High Court of the Federal Capital Territory in Abuja. Overview 50 Reviews 1 Jobs 25 Salaries 9 Interviews 22 Benefits 4 Photos 17 Diversity Follow + Add a Salary What are your colleagues talking about? According to the Bloomberg report cited, Seplat made payments to 18 companies associated with its founders, Austin Avuru and ABC Orjiako for services rendered. Seplat Energy Plc Insider Trading & Ownership Structure Sources within Seplat told Nairametrics that the series of controversies at Seplat began in February 2022, when the company struck a deal worth as much as $1.6 billion to acquire the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) from US supermajor ExxonMobil. A 40% operating ownership of four oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure (NNPC is the 60% partner) The Qua Iboe Terminal, one of Nigerias largest export facilities SEPLAT Supporting documents of capital market transactions that have been approved by SEC Nigeria, International Organisations of Securities Commissions, West Africa Securities Regulators Association, Description of Directorates and Departments, Organisations and Individuals Registered By SEC, Request for an intepretation of a law, rule, code or guideline, Code of Conduct for Shareholders Associations, Guidance on the implementation of sections 60-63 of ISA 2007, SEC Guidelines on Sustainable Financial Principles for the Capital Market, Administrative Proceedings Committee Matters, Check if a company or person is registered to do investment business in Nigeria, Check if you have some unclaimed dividends, Registration as a Capital Market Operator, Minimum capital requirements for Capital Market Operators, Specific Application Guidelines for Capital Market Operator Function, Nature of Application requirements, fees and implementation time-frame, Registration of Capital Market Securities/Products, Registration of IPOs (CIS, REIT, ETF), PE/VC, Infrastructure and Specialized Funds, Reporting Template On Sustainable Financial Principles For The Nigerian Capital Market, Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Returns, Current Value (Position) of Foreign Investment Managed on Behalf of Nigerian Residents (USD)), Foreign Transactions on Behalf of Nigerian Residents, Domestic Transactions on Behalf of Non-Resident Investors, Ownership Structure of Nigerian Companies, Requirements for Filing of Returns by Capital Market Operators, Regulatory Returns Filing Calendar For Public Companies, List of Registered Shareholders Associations, Weekly Net Asset Value Data for Collective Investment Schemes, Monthly Net Asset Value Data For Collective Investment Schemes, Monthly Net Asset Value(NAV) Of Exchange Traded Funds(ETFS), Quarterly Update on Private Equity and Infrastructure Funds, Nigerian Commodities Trading Ecosystem Bulletin, Notice of Acceptance of Applications for the Regulatory Incubation (RI) Program, Blacklisting Of Six (6) Unregulated Online Trading Platforms, The Supreme Court affirms the jurisdiction of the Investments and Securities Tribunal over capital market disputes, Investors Alert Blacklisting Of Five (5) Italian E-Commerce Websites, Public Statement On Recent Reports On Seplat Energy PLC, Notification for 2023 First CMC Webinar Meeting. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. Seplat is a small oil and gas Of Seplat Petroleum Development Company Plc P.M.B:12638 Marina What is Seplat Energy's stock price today? The deal would have seen a boost in Seplats production to 146,000 barrels of oil equivalent per day (boepd) and see its proven and probable liquids reserves jump from 241 million barrels to 650 million barrels. Since then, SEPL shares have increased by 0.4% and is now trading at GBX 105.40. Check out our latest analysis for Seplat Petroleum Development. }. Read our dividend analysis for SEPL. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 3, Idejo Street, Opposite ICON House, We can report that insiders do own shares in Seplat Energy Plc. Seplat Energy (LON:SEPL) has a market capitalization of 620.22 million and generates 951.80 million in revenue each year.
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