Seplat Energy Regulatory News (SEPL)

Period Ended

31st December 2019

Dividend Announcement

Date

23rd March 2020

Dividend

A Final Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each, (subject to appropriate withholding tax and shareholders' approval) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 12th May 2020.

Closure of Register

To enable Seplat's Registrar, Datamax Registrars Limited, prepare for the payment of the final dividend, the Register of Shareholders will be closed on 13th May 2020.

Qualification Date

Close of Business on 12th May 2020. 

Note that on the London Stock Exchange: The Associated Record Date will be 12th May 2020 and the Ex-Dividend date will be 11th May 2020.

Dividend Currency

The default currency and options on currency election for the dividend will depend as follows:

• Shareholders holding their shares on the Nigerian Stock Exchange without a valid Nigerian Certificate for Capital Importation ("CCI") will be paid their dividend in Naira as the default currency;

• Shareholders holding their shares on the Nigerian Stock Exchange with a valid CCI will be paid their dividend in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible). Evidence of the CCI must be provided to Datamax Registrars Limited; and

• Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency. However, those shareholders may instead elect to receive their entire dividend payment in pounds sterling. Partial elections are not permissible.

Shareholders Options

Shareholders who have a dividend currency option, must make the election to the Company's Registrars by 27th May 2020, otherwise the dividend will be paid in the default currency. The election form will be sent out to the relevant shareholders and can also be found on the company website at 

https://seplatpetroleum.com/investor-centre/corporate-governance/dividends.

Those shareholders holding their shares on the Nigerian Stock Exchange who hold a valid CCI should notify Seplat's Nigerian Registrars, DataMax Registrars Limited ("DataMax"), of that fact.

Determination of Exchange

Rate

The exchange rate for the Naira or Pounds Sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 11th May 2020 and will be communicated by the Company on 12th May 2020.

Payment Date

On or around 4th June 2020, the final dividend will be paid electronically to shareholders whose names appear on the Register of Members as at 12th May 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their final dividend directly into their Bank accounts.

E-Dividend Registration

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar's E-Dividend Mandate Activation Form, which is also available on:http://www.datamaxregistrars.com/images/forms/seplate_e-mandate%20form.pdf, complete and submit to the Registrar or their respective Banks. Holders of shares through depositary interests on the LSE should please provide their account details to the Company's UK depositary, Computershare.

Unclaimed Dividend

Warrants and Share

Certificates

Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.

Date of AGM

The Company's Annual General Meeting will be held at the Eko Suites Hotel, Victoria Island, Lagos on Thursday, 28th May 2020 at 11.00am.

Enquiries

Enquiries on opening of account and payment of dividend should be directed to the appropriate Registrar.

For all other enquiries, kindly contact:

Summary of Key Dates

23 March 2020

Dividend announcement date

11 May 2020

London Stock Exchange: Ex-Dividend Date

Date for determining foreign exchange rate

12 May 2020

Nigerian Stock Exchange: Qualification date

London Stock Exchange: Associated Record Date

Foreign exchange rates will be communicated to shareholders

13 May 2020

Nigerian Stock Exchange: Register Close Date

27 May 2020

Closing date for election to the Company's Registrars of foreign exchange rates

28 May 2020

Annual General Meeting

4 June 2020

Dividend Payment Date