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. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. Seplat Petroleum Development Company Salaries Justice Yellin Bogoro of the Federal High Court had issued an interim order restraining Orjiako, and the two firms, as well as their proxies in Nigeria and any jurisdiction worldwide, from receiving and or transferring assets and accounts of Seplat Energy Plc. SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios. They too, get it wrong sometimes. Seplat Energy's stock was trading at GBX 105 at the start of the year. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Net sales break down by family of products as follows: - natural gas (21.2%). At the end of 2020, the group operated 7 onshore blocks located in Nigeria. 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. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Get daily stock ideas from top-performing Wall Street analysts. All rights reserved. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. Seplat Energy (LON:SEPL) has a market capitalization of 620.22 million and generates 951.80 million in revenue each year. However, shortly after President Buharis decision, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) publicly opposed the acquisition during a widely broadcasted television interview. It might be worth looking deeper into this. The company can be reached via phone at +234-1-2770400. Sorry, your blog cannot share posts by email. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. width: 100vw; This can indicate that the company has a certain degree of credibility in the investment community. Rivers State. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. 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. 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. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. According to sources at Seplat, this singular act gave rise to a double whammy within Seplat; However, in early March 2023, the company CEO, Roger Brown had said Seplat was committed to pursuing the MPNU acquisition deal before a new president is sworn in by the end of May 2023. Alternatively, email editorial-team@simplywallst.com. By February 13, 2023, Seplat suspended the consultancy agreement with its former Chairman, ABC Orjiako through Amaze Limited. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Seplat Petroleum Development Company Is this your company? -, Ashoka WhiteOak holds IPO; Fox Marble agrees takeover, Naked Wines optimistic; Hotel Chocolat warns on sales, Visa, Work And Residence Permit In Nigeria- A Cursory Look At The SEPLAT Energy CEO'S Experience, Other Oil & Gas Exploration and Production, Sector Other Oil & Gas Exploration and Production, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, Chief Executive Officer & Executive Director, Chief Financial Officer & Executive Director, Chief Operating Officer & Executive Director, Senior Independent Non-Executive Director. SEPL Institutional Ownership and Shareholders - SEPLAT Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger WebSeplat Petroleum Development Company Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. This may not be consistent with full year annual report figures. 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. Sky Sports News on Twitter: "Aston Villa CEO, Christian Purslow Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. @media (min-width: 850px) { There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. 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. 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. Strategic growth: Eland acquisition 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. 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. One share of SEPL stock can currently be purchased for approximately GBX 105.40. PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. Governance structure | Our governance | Our company | Seplat 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. click here to see if those insiders have been buying or selling. In-depth profiles and analysis for 20,000 public companies. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. I find it very interesting to look at who exactly owns a company. The official announcement can be viewed at this link. 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. var size='300x250', The Australian Ballet will showcase two world premiere dance pieces as part of its 60th anniversary.The double bill Identity features Paragon by resident choreographer Alice Topp. Sign up here. SEC TOWERS, Plot 272, Samuel Adesujo Ademulegun Street, Central Business District P.M.B:315, Garki, Abuja +234 (0) 94621100; +234 (0) 94621168 Email: sec@sec.gov.ng. Seplat Energy Plc Insider Trading & Ownership Structure Get in touch with us directly. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. Aston Villa CEO, Christian Purslow believes the Premier League should be investigating to determine the ownership structure of Newcastle United. 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. The NRL concedes officials missed a crucial knock-on call late in Canberra's golden-point win over the Dolphins.With scores locked at 30-30, Canberra's Hudson Young knocked the ball forward into the arm of Ray Stone, before the Raiders regained possession. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? WebSEPLAT EAST ONSHORE LIMITED TENDER OPPORTUNITY: PROVISION OF PRODUCTION CHEMICALS (OML 53 JISIKE & OHAJI ONSHORE FIELDS) NipeX Tender Ref. FOCUSED AND DOMINANT CONSOLIDATOR IN THE A look at the shareholders of Seplat Petroleum Development Company Plc (LON:SEPL) can tell us which group is most powerful. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. Private companies may also have a strategic interest in the company. 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. 326 E 8th St #105, Sioux Falls, SD 57103 Gambling reform advocates have called on the federal government to create a special unit to address the harm being inflicted across the country.At a symposium in Adelaide on Monday, both the Public Health Association of Australia and the Alliance for Gambling Reform said the unit should sit within the Department of Health and Aged Care. We can see that Seplat Energy does have institutional investors; and they hold a good portion of the company's stock. You have already added five stocks to your watchlist. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. 5b Isaiah Odolu Street, GRA phase 2 Seplat Petroleum Development is not owned by hedge funds. We project Seplat to be broadly FCF-neutral in 2021-2025. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. With 47% stake, private companies possess the maximum shares in the company. The company earns 62.41 million in net income (profit) each year or GBX 0.09 on an earnings per share basis. To everyones dismay, President Buhari reversed his earlier approval by August 10, 2022, blaming his indecision on the lack of coordination among sector agencies. Home; Exclusives. 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 stemming from changes in managerial structure and the delayed acquisition of Mobil Producing Nigeria Unlimited assets. By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. I generally consider insider ownership to be a good thing. This announcement was made after a Federal High Court in Lagos issued a Mareva Injunction restraining ABC Orjiako, and other firms linked to him, from accessing the accounts and assets of Seplat Energy Plc. 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. Tesla Continues to Defy Expectations, Is it Buyable Again? Seplat Energy Plc was incorporated in 2009 and is headquartered in Lagos, Nigeria. Secure and increase the performance of your investments with our team of experts at your side. 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. Have feedback on this article? Fitch Upgrades Seplat to 'B'; Outlook Stable - Fitch Ratings When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. height: calc((850px) * 9 / 16); By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. This risk is higher in a company without a history of growth. On November 17, 2021, Seplat announced that ABC Orjiako would step down from his position as Board Chairman in May 2022. SEPLAT ENERGY PLC : Shareholders Board Members .uniq_1764707858073873 { How Much Of Seplat Petroleum Development Company Plc 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. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. 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. View our latest analysis for Seplat Energy. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. The general public, with a 28% stake in the company, will not easily be ignored. Seplat is demanding the sum of $5 billion in damages. View which stocks are hot on social media with MarketBeat's trending stocks report. That's interesting, because hedge funds can be quite active and activist. Our research also brought to light the fact that roughly 52% of the company is controlled by the top 4 shareholders suggesting that these owners wield significant influence on the business. max-width: 850px; Seplat Energy PLC SEPLAT Ownership - XNSA Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. Real-time analyst ratings, insider transactions, earnings data, and more. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. 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. Lagos State, Kano Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. OWNERSHIP You can click here to see if those insiders have been buying or selling. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. When such a trade goes wrong, multiple parties may compete to sell stock fast. At first observation, the ownership skirmishes at Seplat closely resemble the case of the two Hebrew women who approached the judgement throne of King Solomon, It seems that Private Companies own 47%, of the Seplat Energy stock. Meanwhile, the case has been adjourned to May 16, 2023, to continue the hearing. 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. This represents a yield of 2.36%. Seplat You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. The Ministry had said that Mr Brown was in possession of a Combined Expatriate Residence Permit and Aliens Card (CERPAC) that was not based on a validly issued Expatriate Quota approved by the Ministry of Interior resulting in the violation of relevant Immigration Laws and Regulations. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. Investors | Seplat Energy Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. 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. 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. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Seplat Energy's mailing address is 25A Lugard Avenue, Ikoyi, LAGOS, 101222, Nigeria. 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. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: 27 Apr 2023 21:46:07
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