seplat ownership structure

The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, 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. The company can be reached via phone at +234-1-2770400. They are always enabled. African Alliance House (4th Floor), F1, Sani Abacha Way/Airport Road, Opposite KLM Airlines ','+childNetworkId.trim():'';xmlhttp.open("GET", 'https://pubads.g.doubleclick.net/gampad/adx?iu=/147246189'+child+'/'+adunit+'&sz='+encodeURI(size)+'&t=Placement_type%3Dserving&'+Date.now(), true);xmlhttp.send();})(); !function(){var t="611a52ccd5cc7aa94a532b7d",e="widget_611a52ccd5cc7aa94a532b7d",a=document.createElement("script");a.type="text/javascript",a.setAttribute("data-cfasyn","false"),a.src="https://widget-cdn.ketshwa.com/m/p/611a52ccd5cc7aa94a532b7d/1256.js",a.async=!0,document.body.appendChild(a),a.onload=function(){KetshwaSDK.showWidget(t,e)}}(); Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |, Afrihealths Rigour+ aims to tackle medical brain drain, and counterfeit drugs in Nigeria with innovative healthcare solutions, Leaving the Tarmac: Buying a Bank in Africa shortlisted for BCA African Business Book of the Year, CBN pumps N701 billion back into circulation in March 2023 to ease cash at ATMs. You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. Seplat Petroleum Development Company (SEPLAT) is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with a strategic focus in the Niger Delta of Nigeria. The Mareva injunction was issued because Zenith Bank Plc had taken Dr Orjiakor, Shebah Exploration and Production Company Limited, Shebah Petroleum Development Company Limited and six others before the Federal High Court, over an alleged debt of about $78,426,578.64. 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. One share of SEPL stock can currently be purchased for approximately GBX 105.40. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. The official announcement can be viewed at this link. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. What Seplat is buying from Mobil. Seplat is demanding the sum of $5 billion in damages. Our goal is to create a safe and engaging place for users to connect over interests and passions. .uniq_1764707858073873 { Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related Sources within the company mention that there are some aggrieved parties who may be working against the company to further their own agenda threatening to impact Seplats long-term success if they are not addressed. A Brothers 4 Life member chose by himself to sell ice while the gang's founder worked with the drug dealer to sell shoes and tap fittings, a NSW jury has heard.Bassam Hamzy is on trial in the Downing Centre District Court over allegations he sold methylamphetamine while incarcerated, giving directions through his lawyer Martin Churchill to gang members outside. 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. 326 E 8th St #105, Sioux Falls, SD 57103 Seplat, a Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and the London Stock Exchange, is facing internal crises and legal battles Researching institutional ownership is a good way to gauge and filter a stock's expected performance. Home; Exclusives. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. It also benefited from a USD350 With a market capitalization of UK297m, Seplat Petroleum Development is a small cap stock, so it might not be well known by many institutional investors. But he expressed confidence that the company would do better going forward for many reasons, one of which is Seplat being listed on the London Stock Exchange and its activities will be scrutinized publicly, unlike on the Nigerian Exchange where companies may get away with unethical practices. Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos Meanwhile, the case has been adjourned to May 16, 2023, to continue the hearing. Read what they think about their salaries on our Compensation FAQ page for , Summer Legal salaries - 3 salaries reported, Project Engineer salaries - 1 salaries reported, Budget Manager salaries - 1 salaries reported, HSE Specialist salaries - 1 salaries reported, Graduate Engineer salaries - 1 salaries reported, Electrical Engineering salaries - 1 salaries reported, Administrative Assistant salaries - 1 salaries reported, Piping Engineer salaries - 1 salaries reported, Joint Venture Planning and Cost Engineer salaries - 1 salaries reported, Internship salaries - 1 salaries reported, Graduate Trainee salaries - 1 salaries reported, Lead Cost Estimator salaries - 1 salaries reported, Warehousing, Rigging & Material Handling salaries - 1 salaries reported, Senior Metering Engineer salaries - 1 salaries reported, Mechanical Engineer salaries - 1 salaries reported, Operations salaries - 1 salaries reported, Contractor salaries - 1 salaries reported, Reservoir Engineer salaries - 1 salaries reported, Business Management Graduate Scheme salaries - 1 salaries reported. Have feedback on this article? Receive SEPL Stock News and Ratings via Email. When such a trade goes wrong, multiple parties may compete to sell stock fast. Read our dividend analysis for SEPL. Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new After waiting longer than any British heir to become monarch, King Charles III has quietly settled into his new role with little of the drama some commentators had expected, but with family divisions and some fundamental issues still looming.The 74-year-old Charles, who will be formally crowned on Saturday, was the oldest sovereign to take the throne in a lineage that dates back 1000 years when he succeeded his hugely popular mother Queen Elizabeth II after her death last September. Transparency is our policy. Donald Trump has requested a mistrial in a civil case where the writer E Jean Carroll is accusing him of rape and defamation, saying the judge made several "unfair and prejudicial" rulings against him.In an 18-page letter filed early Monday in Manhattan federal court, Trump's lawyer Joe Tacopina accused US District Judge Lewis Kaplan of being biased against the former US president, including in the jury's presence. 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. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. Seplat Energy announced a dividend on Thursday, April 27th. }. Strategic growth: Eland acquisition Essendon dasher Sam Durham has been slapped with a one-match ban for a dangerous tackle on Geelong's Mark Blicavs.Durham is the latest player cited under the AFL's crackdown on dangerous tackles, after slinging Blicavs to the MCG turf in the third quarter of Essendon's 28-point loss on Sunday. Stockholders of record on Wednesday, May 17th will be given a dividend of GBX 0.03 per share on Friday, June 16th. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. Export data to Excel for your own analysis. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. NNPCL requested a declaration that a dispute had arisen between itself and MPNU regarding the interpretation of pre-emption rights under their Joint Operating Agreement (JOA) and asked the court to order NNPC and MPNU to engage in arbitration as required by the JOA. SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Lagos State, Kano As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. The dividend payout ratio is 8,888.89%. WebWhat is the ownership structure of SEPLAT? By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. It also benefits from a USD350 million undrawn RCF due in December 2023 and USD39 million availability under a committed USD50 million junior off-take credit facility due in 2027. Delayed London Stock Exchange Cookies necessary to ensure the optimal functioning of our website. Join thousands of other investors who make better investing decisions with our premium tools. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: For us, this is a definitive measure of our success and reflects our strong During the period highlighted, Seplat paid $410 million to companies associated with Orjiako and $299 million to companies associated with Avuru, according to the companys annual reports. Seplat Petroleum Development Company Is this your company? Identify stocks that meet your criteria using seven unique stock screeners. Real-time analyst ratings, insider transactions, earnings data, and more. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Seplat Petroleum Development is not owned by hedge funds. .uniq_1764707858073873 { It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. However, the Commission encourages the Board to continue effective dialogue with all stakeholders in dealing with the issues. Also submit photocopies of its CAC Forms CO2 and CO7. max-width: 850px; 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. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. The official website for the company is seplatpetroleum.com. Our daily ratings and market update email newsletter. 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? It seems that Private Companies own 47%, of the Seplat Energy stock. Get in touch with us directly. Is United Airlines Playing a Game of Limbo with Its Guidance? Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related decisions, A total of 4 investors have a majority stake in the company with 52% ownership, Institutional ownership in Seplat Energy is 11%. Our data indicates that hedge funds own 9.0% of Seplat Energy. So they usually pay more attention to companies that are included in major indices. Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger 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. What other stocks do shareholders of Seplat Energy own? Learn how it impacts everything we do. This can indicate that the company has a certain degree of credibility in the investment community. Net sales break down by According to him, it is not a good sign for corporate governance. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. Liquidity and Debt Structure. Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. 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 But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Seplat Petroleum Development is not owned by hedge funds. 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. Aston Villa CEO, Christian Purslow believes the Premier League should be investigating to determine the ownership structure of Newcastle United. A 30-year-old man is under police guard in hospital accused of stabbing a senior-constable who had been investigating reports of a disturbance.The incident unfolded on the street outside an address at Rothwell, north of Brisbane, just before 9. 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. Alex de Minaur has been beaten by qualifier Aslan Karatsev in the Madrid Open.19 went down 6-3 4-6 6-4 to the Russian, who is ranked 101 places below him, but is a former top-20 player. In March 2023, the company decided to terminate the contract due to repeated corporate governance breaches of a material nature, such as unilaterally making significant commitments on behalf of Seplat and using the companys letterhead to communicate said commitments without prior approval by the Board. After ABC Orjiako stepped down as Board Chairman at Seplat, the company had a consultancy arrangement with him, which obliged him to provide defined assistance to certain external stakeholders. NRL chief executive Andrew Abdo invoked his power for the match review committee to consider their charges before Josh Reynolds was cited for Sunday's outburst at officials.Reynolds has been hit with a grade-one contrary conduct charge after his halftime abuse of referee Grant Atkins in Canterbury's win over St George Illawarra. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. 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. Includes shallow-water affiliate; ExxonMobil to retain deepwater assets. 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. WebSEPLAT EAST ONSHORE LIMITED TENDER OPPORTUNITY: PROVISION OF PRODUCTION CHEMICALS (OML 53 JISIKE & OHAJI ONSHORE FIELDS) NipeX Tender Ref. The Commission will continue to work with the Board of Seplat to monitor the situation and take effective measures to preserve the integrity and transparency of the capital market. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. Our data reflects individual insiders, capturing board members at the very least. In their own names, insiders own UK17m worth of stock in the UK584m company. By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. 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 trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". Seplats acquisition of Mobil Producing Nigeria Unlimited assets has been delayed due to legal battles, including a dispute with Nigerian National Petroleum Company Limited over pre-emption rights under their Joint Operating Agreement. This represents a yield of 2.36%. Please log in to your account or sign up in order to add this asset to your watchlist. The Securities and Exchange Commission, Nigeria Public Statement On Recent Reports On Seplat Energy PLC 29/03/2023 The Commissions attention has been drawn to the recent reports in the media regarding Seplat Energy Plc (Seplat), a public company listed on the Nigerian Exchange Limited (NGX) and the London Stock Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. 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. Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. Those businesses were connected to both Orjiako and Avurus family members. Kano State, Port-Harcourt Seplat Energy also announced that the Lagos Federal High Court has vacated the ex parte interim orders against Seplat, its Chief Executive Officer, and its Board Chairman. Meanwhile, ABC Orjiako responded by denying any wrongdoing in the letter he initiated to the Federal Government to facilitate the consummation of the lingering $1.3 million MPNU deal, saying he acted within the scope of his mandate for the benefit of the company. The Group also holds a 20.46% stake in Seplat, one of Nigerias main operators that is listed on the stock exchanges of London and Lagos.Maurel & Prom also has financial support from its majority shareholder, the Indonesian national oil company Pertamina. We also tend to see lower insider ownership in companies that were previously publicly owned. Management ultimately answers to the board. That's interesting, because hedge funds can be quite active and activist. 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. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. It operates a seven oil and gas Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Read our dividend analysis for SEPL. In its 2023 first quarter results, it reported higher revenue of 36.9% to $331 million. 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. Alternatively, email editorial-team@simplywallst.com. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI?

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