Last checked at 21 Feb 2020 17:00
USeplat Petroleum Development Company Plc ("SEPLAT" or the "Company")
Announcement on Notification of Dealing in Shares by a PDMR
Lagos and London - February 21, 2020: The Company received notification on February 21, 2020 of a transfer of 7,831,534 ordinary shares held by Platform Petroleum Limited (an entity in which Austin Avuru has an equity interest) to Professional Support Limited (an entity wholly controlled by Austin Avuru). Similarly, a transfer of 12,828,161 shares held directly by Platform Petroleum was made to certain shareholders of Platform Petroleum and they are therefore no longer considered to be connected persons. A further 95,933 LTIP awards for Austin Avuru were released to him and transferred to Professional Support on 24 January 2020.
Following these transfers, Platform Petroleum holds 20,000,000 shares (3.40%) and Professional Support holds 38,970,463 shares (6.62%); based on the Issued Share Capital of 588,444,561. Mr. Avuru now holds nil direct interest and an indirect interest of 58,970,463 ordinary shares (10.02%) of N0.50k each of the Company.
As a result of the transfers, Mr. Avuru has now increased his equity interest in Platform Petroleum from 23% to 37.11% interest.
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
Company Secretary
FOR: SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC.
Details of duly authorised officer of issuer responsible for making notification:
Edith Onwuchekwa, Co Sec/Chief Governance Compliance Officer +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
| ||||
a)
| Name
| Ojunekwu Austin Avuru | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive Officer | |||
b)
| Initial notification /Amendment
| Initial notification
| |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
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) | |||
Identification code | |||||
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. Transfer of LTIP shares registered in the name of Austin Avuru to Professional Support Limited an entity wholly controlled by Mr. Avuru. | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 7, 831,534 | ||||
Nil | 95, 933 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 7,927,467 | ||||
- Price | Nil | ||||
e)
| Date of the transaction
| January 13 and January 24, 2020 | |||
f)
| Place of the transaction
| Lagos, Nigeria and London UK | |||