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Quick Take: Seplat Energy announces major shareholder with 8.93% voting right

Seplat Petroleum Development Company Plc, said one of its shareholders, Sustainable Capital Africa Alpha Fund, has increased its stake with a direct shareholding of 52,544,527 units giving the company 8.93% voting right in Seplat. 

This was disclosed in a notification that was sent to the Nigerian Exchange Limited on December 16, 2022.

 Sustainable Capital Africa Alpha Fund had, two years ago, acquired a direct shareholding of 30,071,128 units based on the issued share capital of 588,444,561 units of shares. This initially gave the company a 5.11% ownership stake in Seplat. 

  • The notification which was signed by the Company Secretary/Chief Governance Compliance Officer, Mrs Edith Onwuchekwa, said: “the company received notification that a shareholder on the London platform, in the name of Sustainable Capital Africa Alpha Fund, dealt in shares and now holds a direct interest of 30,071,128 units of shares (5.11%) based on the issued share capital of 588,444,561 units of shares.
  • “In line with the company’s commitment to updating the Exchange of its activities, we hereby notify the Exchange that the shareholder has now attained and crossed the threshold of 5% and above. Further details of the transaction are set out in the attached standard form for notification of major holdings (TR-1).”

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