If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. You have already added five stocks to your watchlist. The Mareva injunction was issued because Zenith Bank Plc had taken Dr Orjiakor, Shebah Exploration and Production Company Limited, Shebah Petroleum Development Company Limited and six others before the Federal High Court, over an alleged debt of about $78,426,578.64. When such a trade goes wrong, multiple parties may compete to sell stock fast. In their own names, insiders own UK8.1m worth of stock in the UK297m company. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Seplat is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of assets. What other stocks do shareholders of Seplat Energy own? Copyright 2019, Securities & Exchange Commission, Nigeria. Our model gets smarter over time as more people share salaries on Glassdoor. View the best growth stocks for 2023 here. This article by Simply Wall St is general in nature. Is the 149% Dividend for ZIM Integrated Shipping in Jeopardy? Management ultimately answers to the board. height: 56.25vw; Get in touch with us directly. 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. Seplat Energy Offshore Limited, a wholly owned Nigerian subsidiary of Seplat Energy Plc, has entered into a Sale and Purchase Agreement to acquire the entire share capital of MPNU for a purchase price of $1,283 million plus up to $300 million contingent consideration, subject to lockbox, working capital and other adjustments at Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos As he prepares for an audience with King Charles, self-described republican Chris Hipkins has ruled out New Zealand becoming a republic during his prime ministership.Mr Hipkins heads to the United Kingdom on Monday night for a five-day visit including leading New Zealand's delegation at the King's Coronation. Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. 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. Case in point: We've spotted 6 warning signs for Seplat Petroleum Development you should be aware of. Seplat is demanding the sum of $5 billion in damages. 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. Seplat Energy's mailing address is 25A Lugard Avenue, Ikoyi, LAGOS, 101222, Nigeria. xmlhttp = new XMLHttpRequest();xmlhttp.onreadystatechange = function(){if(xmlhttp.readyState==4 && xmlhttp.status==200){var es = document.querySelectorAll("[data-id='"+adunit+"']");var e = Array.from(es).filter(function(e) {return !e.hasAttribute("data-rendered")});if(e.length > 0){e.forEach(function(el){var iframe = el.contentWindow.document;iframe.open();iframe.write(xmlhttp.responseText);iframe.close();el.setAttribute('data-rendered', true)})}}};var child=childNetworkId.trim()? Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. The 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. Read our dividend analysis for SEPL. 5b Isaiah Odolu Street, GRA phase 2 Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. Some U.K. companies can be purchased through major U.S. brokerages in the form of American Depository Receipts (ADRs), which are placeholder equities held in a trust by a bank that represent shares of a foreign stock.Compare Top Brokerages Here. Simply Wall Street Pty Ltd (ACN 600 056 611), is a Corporate Authorised Representative (Authorised Representative Number: 467183) of Sanlam Private Wealth Pty Ltd (AFSL No. Concerned about the content? 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. The company also engages in the renewable energy generation activities. contact@marketbeat.com The plan involves the retirement of Mr Basil Omiyi as Board Chairman, as well as the retirement of Senior Independent Non-Executive Director (SINED), Dr Charles Okeahalam before the companys Annual General Meeting in May 2024. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Concerned about the content? Duolingo Speaking Volumes: Forms Bullish Chart Ahead of Earnings, Caterpillar Being Weighed Down by Negative Investor Sentiment, Q1 2023: Seplat Energy post 69% increase in gross profit, Seplat Energy: Transforming Education In Nigeria Through Innovation, Get MarketBeat All Access Free for 30 Days, 2023Q1: Seplat Energys Revenue Up 36.9%, Offers $0.03 Dividend, Seplat Energy grows revenue by 36.9% amid crisis, Seplat Energy Plc (LON:SEPL) Declares Dividend of $0.03, Seplat Energy Chairman to Retire Before 2024 AGM, Seplat Energy chair to resign and firm eyes improved governance, Seplats director, Fabian Ajogwu, resigns, cites external interferences, Seplats notice of withdrawal on criminal charges fraudulent CSO, Nigeria: In New Twist, Govt Withdraws Immigration Case Against Seplat's CEO, Others, Nigerian Govt Withdraws Immigration Lawsuit, Says Seplat, Nigeria: Govt Withdraws Immigration Case Against Seplat CEO, Others, FG withdraws immigration case against Seplats CEO, Seplat Energy Says Nigerian Government Files Immigration Suit Against It, Seplat crisis not related to its economic activities SEC DG, Breach of Immigration Act: FG files criminal charges against Seplat, Roger Brown, Omiyi, others, Govt Drags Seplat's CEO, Others to Court Over Alleged Breach of Immigration Law, Seplat provides FG required documents in immigration suit, Our Sustainability Drive Aggressive, Unwavering Seplat COO, Seplat Energy Unveils Plans To Fight Poverty Through Youth Empowerment Capacity Development, Seplat Energy Restates Commitment To Youth Entrepreneurship Growth, Seplat Doles Out N16.5m Seed Money To 23 Budding SMEs, Seplat Energy lifts young entrepreneurs with grants, Seplats corporate governance issues: Matters arising, 25A Lugard Avenue, Ikoyi, LAGOS, 101222, Nigeria. I generally consider insider ownership to be a good thing. Secure and increase the performance of your investments with our team of experts at your side. We can report that insiders do own shares in Seplat Energy Plc. This may not be consistent with full year annual report figures. Supporting documents of capital market transactions that have been approved by SEC Nigeria, International Organisations of Securities Commissions, West Africa Securities Regulators Association, Description of Directorates and Departments, Organisations and Individuals Registered By SEC, Request for an intepretation of a law, rule, code or guideline, Code of Conduct for Shareholders Associations, Guidance on the implementation of sections 60-63 of ISA 2007, SEC Guidelines on Sustainable Financial Principles for the Capital Market, Administrative Proceedings Committee Matters, Check if a company or person is registered to do investment business in Nigeria, Check if you have some unclaimed dividends, Registration as a Capital Market Operator, Minimum capital requirements for Capital Market Operators, Specific Application Guidelines for Capital Market Operator Function, Nature of Application requirements, fees and implementation time-frame, Registration of Capital Market Securities/Products, Registration of IPOs (CIS, REIT, ETF), PE/VC, Infrastructure and Specialized Funds, Reporting Template On Sustainable Financial Principles For The Nigerian Capital Market, Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Returns, Current Value (Position) of Foreign Investment Managed on Behalf of Nigerian Residents (USD)), Foreign Transactions on Behalf of Nigerian Residents, Domestic Transactions on Behalf of Non-Resident Investors, Ownership Structure of Nigerian Companies, Requirements for Filing of Returns by Capital Market Operators, Regulatory Returns Filing Calendar For Public Companies, List of Registered Shareholders Associations, Weekly Net Asset Value Data for Collective Investment Schemes, Monthly Net Asset Value Data For Collective Investment Schemes, Monthly Net Asset Value(NAV) Of Exchange Traded Funds(ETFS), Quarterly Update on Private Equity and Infrastructure Funds, Nigerian Commodities Trading Ecosystem Bulletin, Notice of Acceptance of Applications for the Regulatory Incubation (RI) Program, Blacklisting Of Six (6) Unregulated Online Trading Platforms, The Supreme Court affirms the jurisdiction of the Investments and Securities Tribunal over capital market disputes, Investors Alert Blacklisting Of Five (5) Italian E-Commerce Websites, Public Statement On Recent Reports On Seplat Energy PLC, Notification for 2023 First CMC Webinar Meeting. 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, disputing ownership of a baby. According to him, it is not a good sign for corporate governance. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. In other words, these shareholders have a meaningful say in the decisions of the company. 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. When such a trade goes wrong, multiple parties may compete to sell stock fast. After ABC Orjiako stepped down as Board Chairman at Seplat, the company had a consultancy arrangement with him, which obliged him to provide defined assistance to certain external stakeholders. Overview 50 Reviews 1 Jobs 25 Salaries 9 Interviews 22 Benefits 4 Photos 17 Diversity Follow + Add a Salary What are your colleagues talking about? 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. 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. This risk is higher in a company without a history of growth. Strategic growth: Eland acquisition } But he expressed confidence that the company would do better going forward for many reasons, one of which is Seplat being listed on the London Stock Exchange and its activities will be scrutinized publicly, unlike on the Nigerian Exchange where companies may get away with unethical practices. What is Seplat Energy's stock price today? WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. 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. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. Is United Airlines Playing a Game of Limbo with Its Guidance? Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. Fiji's former-attorney general Aiyaz Sayed-Khaiyum, who is also general secretary of the Pacific island nation's main opposition party Fiji First, has been taken into custody after being charged with abuse of office, local media reports.The criminal charge was approved on Monday by the Office of the Director of Public Prosecution and relates to a complaint by an election official, FBC News reported. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. For us, this is a definitive measure of our success and reflects our strong The community relies on everyone sharing. In other words, the group stands to gain the most (or lose the most) from their investment into the company. WebThe combined oil production of Seplat and Eland (as separate entities) in 2019 stood at 32,898 bopd and as per independent reserve assessments at 1 January 2020 the acquisition has increased Seplats 2P reserves and 2C resources base by 9.6% to 615 MMboe. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. The official website for the company is seplatpetroleum.com. Identify stocks that meet your criteria using seven unique stock screeners. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. WebAs you can see in the diagram, the ownership structure in this company have institutional shareholders with 65.05% of the company ownership, retail shareholders at 13.17%, sovereign wealth funds at 10.47%, foundations (or founder) at 5.20% and others at 6.11%. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Join the According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. }. 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. But to understand Seplat Petroleum Development better, we need to consider many other factors. If you are like me, you may want to think about whether this company will grow or shrink. Seplats acquisition of Mobil Producing Nigeria Unlimited assets has been delayed due to legal battles, including a dispute with Nigerian National Petroleum Company Limited over pre-emption rights under their Joint Operating Agreement. 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. adunit = 'nairametrics.com_336x336_responsive_DFP', .uniq_1764707858073873 { But to truly gain insight, we need to consider other information, too. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. The ex-dividend date is Wednesday, May 17th. You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. Receive SEPL Stock News and Ratings via Email. The general public, with a 28% stake in the company, will not easily be ignored. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new 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, These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. Seplat Energy Plc was incorporated in 2009 and is headquartered in Lagos, Nigeria. It was reported that by mid-morning on February 25 after Seplats announcement of the sale and purchase agreement with MPNU, Seplats share price rose from 93 pence to 105.5 pence ($1.24 to $1.41) on the London Stock Exchange. Sign up here. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. @media (min-width: 850px) { Lagos State, Kano On looking further, we found that 56% of the shares are owned by the top 5 shareholders. (function () { The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, 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. After waiting longer than any British heir to become monarch, King Charles III has quietly settled into his new role with little of the drama some commentators had expected, but with family divisions and some fundamental issues still looming.The 74-year-old Charles, who will be formally crowned on Saturday, was the oldest sovereign to take the throne in a lineage that dates back 1000 years when he succeeded his hugely popular mother Queen Elizabeth II after her death last September. 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Seplat Energy's stock was trading at GBX 105 at the start of the year. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. 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. A Brothers 4 Life member chose by himself to sell ice while the gang's founder worked with the drug dealer to sell shoes and tap fittings, a NSW jury has heard.Bassam Hamzy is on trial in the Downing Centre District Court over allegations he sold methylamphetamine while incarcerated, giving directions through his lawyer Martin Churchill to gang members outside. click here to see if those insiders have been buying or selling. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Post was not sent - check your email addresses! Our data reflects individual insiders, capturing board members at the very least. Seplat went ahead to pay $509,000 to a firm that holds Orjiakos shares for consulting services during the first six months of 2022, actively violating its own March 2021 resolution to eliminate all related-party transactions. Major Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. To see all exchange delays and terms of use please see Barchart's disclaimer. Despite these challenges, Seplat reported higher revenue and pre-tax profits in the first quarter of 2023, and has announced a Boardroom succession plan to strengthen corporate governance and retire some board members. Seplat Petroleum Development is not owned by hedge funds. It also benefits from a USD350 million undrawn RCF due in December 2023 and USD39 million availability under a committed USD50 million junior off-take credit facility due in 2027. By continuing your browsing on this website, you agree to the use of cookies in order to optimize the functionality of the maureletprom.fr website through the production of anonymous and statistical data. The definition of company insiders can be subjective and does vary between jurisdictions. Seplat is a small oil and gas Institutions often own shares in The company management answer to the board and the latter should represent the interests of shareholders. 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. 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. That's interesting, because hedge funds can be quite active and activist. To understand the root cause of events at the publicly listed company, we reviewed a series of events that have led up to this point. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. Get short term trading ideas from the MarketBeat Idea Engine. Please read our Financial Services Guide before deciding whether to obtain financial services from us. 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. This shows at least some alignment. The company also engages in the renewable energy generation activities. View which stocks are hot on social media with MarketBeat's trending stocks report. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. 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.
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