Seplat Energy Chairman, Mr. Udoma, acquires additional shares, boosts stake in the company Nexovant

Seplat Energy has announced that its Chairman, Mr. Udoma Udo Udoma, has purchased an additional 32,500 shares in the company.

The transaction was disclosed in a Directors’ Dealing Notification published on the Nigerian Exchange Group (NGX) portal on December 19, 2024, and signed by the company secretary, Mrs. Edith Onwuchekwa.

Following the purchase, Mr. Udoma now owns 55,071 shares in Seplat Energy, representing a voting interest of approximately 0.00935% based on the company’s total issued shares of 588,444,561.

The disclosure states:

‘’The Company was notified of the purchase of 32,500 ordinary shares by Mr. Udoma Udo Udoma, the Chairman of the Board of Directors of the Company.’’

In continuation: “Following this purchase, Mr. Udoma Udo Udoma now holds 55,071 shares in the Company, which equates to a voting interest of 0.00935% based on the issued shares of 588,444,561.”

The disclosure aligns with Rule 17.15(c) of the NGX Rulebook, 2015 (Issuers’ Rules), and Article 19(3) of the UK Market Abuse Regulations, fulfilling regulatory requirements for transactions involving directors and key management personnel.

What to know

The shares acquired by the Chairman of the Board of Directors, Mr. Udoma Udo Udoma, are ordinary shares identified by the code NGSEPLAT0008.
The purchase was executed in two tranches:
22,500 shares at a price of £196.6203 per share.
10,000 shares at a price of £199.898 per share.
The total purchase amounts to 32,500 shares, with a cumulative average price of £198.259 per share.
The transactions took place between December 18 and 19, 2024, with the London Stock Exchange listed as the venue.

Seplat’s stock market performance in 2024

Seplat Energy has recorded significant movements in the Nigerian stock market, achieving a year-to-date gain of 146.8% as of December 2024.

The stock began the year at N2,310 and, with a trading volume of 2 million shares, ended January on a positive note.
While its price action stalled between March and April, the stock regained momentum in subsequent months.
In October, Seplat experienced its strongest growth, rising by 39% to close at N5,700, supported by a trading volume of 10.6 million shares.
Although November saw a decline, December has brought renewed buying interest, with the stock trading at N5,700 as of December 20, 2024.

On the London Stock Exchange, Seplat has also seen gains, with a year-to-date increase of 61.3% and a current share price of £197, reflecting steady investor interest.

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