Who We Are In their own names, insiders own UK8.1m worth of stock in the UK297m company. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. However, the Commission encourages the Board to continue effective dialogue with all stakeholders in dealing with the issues. Rivers State. By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. No: 1000005401 Furnish details of company ownership and shareholding structure. Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. The community relies on everyone sharing. Includes shallow-water affiliate; ExxonMobil to retain deepwater assets. (function () { SEPLAT, as an indigenous exploration and production company in Nigeria is committed to the development of the capabilities of Nigerian companies in compliance with the provisos of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 for Nigerian Cement Development. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. In its 2023 first quarter results, it reported higher revenue of 36.9% to $331 million. 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. WebCompany profile for SEPLAT Energy PLC including key executives, insider trading, ownership, revenue and average growth rates. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Transparency is how we protect the integrity of our work and keep empowering Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new The official website for the company is seplatpetroleum.com. 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 is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of assets. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. Sorry, your blog cannot share posts by email. Who are the major shareholders and have insiders been buying or selling? Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Seplat Energy Plc Insider Trading & Ownership Structure Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. A minority shareholder told Nairametrics that it is a matter of concern that the company spent over $450 million on goods and services provided by companies linked to its founders between 2010 and 2021. Private companies may also have a strategic interest in the company. Seplat Energy Offshore Limited, a wholly owned Nigerian subsidiary of Seplat Energy Plc, has entered into a Sale and Purchase Agreement to acquire the entire share capital of MPNU for a purchase price of $1,283 million plus up to $300 million contingent consideration, subject to lockbox, working capital and other adjustments at OWNERSHIP Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. He refuted the Presidents approval. Kano SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. It might be worth looking deeper into this. Sky Sports News on Twitter: "Aston Villa CEO, Christian Purslow Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. The investors who had purchased shares after the initial deal was struck and were worried about the flip-flopping of the Nigerian government. Notably, sometimes top-level managers are on the board themselves. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. When such a trade goes wrong, multiple parties may compete to sell stock fast. Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. It's hard to say for sure but this suggests they have entwined business interests. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Our goal is to create a safe and engaging place for users to connect over interests and passions. In its February 25, 2022 acquisition note, Seplat highlighted MPNU assets as a 40% operating ownership of 300 producing wells in 4 oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure, with NNPC being the 60% partner, the Qua Iboe Terminal, a 51% interest in Bonny River Terminal and Natural Gas Liquids Recovery Plants at EAP and Oso, 409 MMBBL of 2P liquid reserves, and 211 Bscf of 2P gas reserves, with the undeveloped gas potential of 2,910 Bscf. Meanwhile, the company and its Board members continued to support Mr Brown through his ordeal, and he kept exercising his duties as the company CEO from the UK office, despite the withdrawal of his work permit. All rights reserved. this free report showing analyst forecasts for its future, MasterChef judge Jock Zonfrillo dies aged 46, Crocodile snatches dog in terrifying video footage, F1 world in disbelief over 'terrifying' incident at Azerbaijan Grand Prix, Chaos as millions 'suffer' during Chinese national holiday: 'Dystopian nightmare', Prince Harry to leave UK just two hours after coronation: 'In and out', JPMorgan boosts Wall St, Fed meet in focus, De Minaur defeat costs him chance to take on Medvedev, AFL CEO-elect prefers day grand final timeslot, Donald Trump requests mistrial in rape civil case, Fiji former attorney-general taken into custody, Lions in double injury blow, Power's Duursma sidelined, Umpires got Nathan Murphy non-free kick call wrong: AFL, Charles settles into life as monarch, after long wait, Women charged after children found living in squalor, Essendon's Durham banned for dangerous tackle, Jailed crime boss says he sold footwear, not drugs, Reduced boundaries won't win Ashes for England: Healy, Abdo intervention prompts Reynolds ref abuse charge, Police officer stabbed 'seconds' after arriving at job, Fifth man charged over Sydney gangland shooting, NRL concedes error on crucial golden point call, Government action urged to combat gambling harm, Home-grown ballet double bill celebrates identity, Republican Hipkins has no plans for a NZ Republic, McReight welcomes World Cup 'wrestle' with Hooper. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. Seplat Energy Plc's (LON:SEPL) largest shareholders are private If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. 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. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. View our latest analysis for Seplat Energy. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Is United Airlines Playing a Game of Limbo with Its Guidance? Read our dividend analysis for SEPL. In order to improve our community experience, we are temporarily suspending article commenting. To everyones dismay, President Buhari reversed his earlier approval by August 10, 2022, blaming his indecision on the lack of coordination among sector agencies. That's interesting, because hedge funds can be quite active and activist. By February 13, 2023, Seplat suspended the consultancy agreement with its former Chairman, ABC Orjiako through Amaze Limited. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. childNetworkId = '21634543682', The company also engages in the renewable energy generation activities. Director of External Affairs & Sustainability. You can click here to see if those insiders have been buying or selling. Payout ratios above 75% are not desirable because they may not be sustainable. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. 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