Last checked at 30 Mar 2021 12:30
USeplat Petroleum Development Company Plc ("SEPLAT" or the "Company")
Announcement on Notification of Dealing in Shares by a PDMR
Lagos and London - March 30, 2021: The Company received a notification on March 26, 2021 of a transfer of 19,760,794 ordinary shares held by Platform Petroleum Limited (an entity in which Mr. Austin Avuru has an equity interest) to various beneficiaries who are Shareholders of Platform Petroleum Limited and they are therefore no longer considered to be connected persons. Amongst these beneficiaries, Professional Support Limited (an entity wholly controlled by Mr. Avuru), received a total of 7,422,770 ordinary shares.
Following these transfers, Platform Petroleum now holds 318,738 shares (0.05%), and Professional Support holds 48,649,952 shares (8.26%) of the Company's Issued Share Capital of 588,444,561. Consequently, Mr. Avuru now holds nil direct interest and an indirect interest of 48,968,690 ordinary shares (8.32%) of N0.50k in the Company.
Further details of the transaction are set out in the attached Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them.
This notification is made in accordance with Rule 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and Article 19 of the EU Market Abuse Regulations.
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
FOR: SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC.
Details of duly authorised officer of issuer responsible for making notification:
Edith Onwuchekwa, Director, Legal/Company Secretary +234 (0) 1 277 0400
Form for Notification and Public Disclosure of Transactions By Persons Discharging Managerial Responsibilities And Persons Closely Associated With Them:
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
| Ojunekwu Austin Avuru | |||
2
| Reason for the notification
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a)
| Position/status
| Non-Executive Director | |||
b)
| Initial notification /Amendment
| Initial notification
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3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| Seplat Petroleum Development Company Plc | |||
b)
| LEI
| 029200711C4S4CB2E982 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of N0.50k each (NGSEPLAT0008) | |||
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Identification code |
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b)
| Nature of the transaction
| Transfer of shares registered in the name of Platform Petroleum Limited to Professional Support Limited, an entity wholly controlled by Mr. Avuru.
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c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| Nil | 7, 422,770 |
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d)
| Aggregated information |
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- Aggregated volume | 7,422,770 | ||||
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- Price | Nil | ||||
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e)
| Date of the transaction
| March 7, 2021 | |||
f)
| Place of the transaction
| Lagos, Nigeria and London UK | |||