seplat ownership structure

Our model gets smarter over time as more people share salaries on Glassdoor. In order to improve our community experience, we are temporarily suspending article commenting. Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. A look at the shareholders of Seplat Petroleum Development Company Plc (LON:SEPL) can tell us which group is most powerful. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Get daily stock ideas from top-performing Wall Street analysts. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. What is Seplat Energy's stock price today? All rights reserved. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. Who are the major shareholders and have insiders been buying or selling? In its February 25, 2022 acquisition note, Seplat highlighted MPNU assets as a 40% operating ownership of 300 producing wells in 4 oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure, with NNPC being the 60% partner, the Qua Iboe Terminal, a 51% interest in Bonny River Terminal and Natural Gas Liquids Recovery Plants at EAP and Oso, 409 MMBBL of 2P liquid reserves, and 211 Bscf of 2P gas reserves, with the undeveloped gas potential of 2,910 Bscf. SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios. Concerned about the content? SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. It seems that Private Companies own 47%, of the Seplat Energy stock. Strategic growth: Eland acquisition Meanwhile, the company and its Board members continued to support Mr Brown through his ordeal, and he kept exercising his duties as the company CEO from the UK office, despite the withdrawal of his work permit. Fraser McReight concedes he may still be the apprentice but says "master" Michael Hooper might be taking some notes of his own when the flankers clash in Townsville.McReight's Queensland Reds will host the NSW Waratahs on Saturday in a Super Rugby Pacific match of consequence, with the rivals sitting clear in sixth and seventh positions respectively and keen to move away from the chasing pack. Seplat Petroleum Development is not owned by hedge funds. This article examines the events that have caused internal crises and legal battles at Seplat, a Nigerian oil and gas company, and discusses the resulting effects on its operations and reputation. childNetworkId = '21634543682', This risk is higher in a company without a history of growth. 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. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. width: 100vw; Justice Yellin Bogoro of the Federal High Court had issued an interim order restraining Orjiako, and the two firms, as well as their proxies in Nigeria and any jurisdiction worldwide, from receiving and or transferring assets and accounts of Seplat Energy Plc. Read our dividend analysis for SEPL. To see all exchange delays and terms of use please see Barchart's disclaimer. 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. A minority shareholder told Nairametrics that it is a matter of concern that the company spent over $450 million on goods and services provided by companies linked to its founders between 2010 and 2021. 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. Have feedback on this article? WebSeplat Petroleum Development Company Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. What is the dividend yield for Seplat Energy? View which stocks are hot on social media with MarketBeat's trending stocks report. This may not be consistent with full year annual report figures. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. 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. This implies the analysts working for those institutions have looked at the stock and they like it. Check out our latest analysis for Seplat Petroleum Development. View our latest analysis for Seplat Energy. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: On November 17, 2021, Seplat announced that ABC Orjiako would step down from his position as Board Chairman in May 2022. Institutional investors commonly compare their own returns to the returns of a commonly followed index. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. 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. You can click here to see if those insiders have been buying or selling. Many look for medium term catalysts that will drive the share price higher. Ian Healy says England are at risk of overthinking the Ashes series if they push for shortened boundaries against Australia in a bid to suit the hosts' new-found attacking approach to Test cricket.A UK newspaper reported England officials had hoped to utilise smaller grounds this winter, with boundary ropes brought in well off the fence. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. Our data indicates that hedge funds own 9.0% of Seplat Energy. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Private companies may also have a strategic interest in the company. 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. These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. 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. The general public, with a 28% stake in the company, will not easily be ignored. Luckily, you can check this free report showing analyst forecasts for its future. However, the Commission encourages the Board to continue effective dialogue with all stakeholders in dealing with the issues. WebOver the last few years, Seplat Energy has successfully grown its business and created significant shareholder value despite the challenges confronting us in our operating environment. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". Seplat, a Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and the London Stock Exchange, is facing internal crises and legal battles They participate in particular in security, ergonomics and the choice of language of the website. Major Also submit photocopies of its CAC Forms CO2 and CO7. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related decisions, A total of 4 investors have a majority stake in the company with 52% ownership, Institutional ownership in Seplat Energy is 11%. The company can be reached via phone at +234-1-2770400. On looking further, we found that 56% of the shares are owned by the top 5 shareholders. With a market capitalization of UK297m, Seplat Petroleum Development is a small cap stock, so it might not be well known by many institutional investors. 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. var size='300x250', Port Harcourt Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. Copyright 2023 Surperformance. Exposure to Nigerian Banks Reduced: As a general policy, the company usually retains around 70% of its total cash in US dollars and around 70% of the US dollar cash is held offshore. It operates a seven oil and gas We can report that insiders do own shares in Seplat Energy Plc. In their own names, insiders own UK17m worth of stock in the UK584m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. }. 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. 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. Real-time analyst ratings, insider transactions, earnings data, and more. 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. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. We also tend to see lower insider ownership in companies that were previously publicly owned. The Commissions attention has been drawn to the recent reports in the media regarding Seplat Energy Plc (Seplat), a public companylisted onthe Nigerian Exchange Limited (NGX)and the London Stock Exchange (LSE). Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. You have already added five stocks to your watchlist. This employer has not claimed their Employer Profile and is missing out on connecting with our community. The company management answer to the board and the latter should represent the interests of shareholders. -, Ashoka WhiteOak holds IPO; Fox Marble agrees takeover, Naked Wines optimistic; Hotel Chocolat warns on sales, Visa, Work And Residence Permit In Nigeria- A Cursory Look At The SEPLAT Energy CEO'S Experience, Other Oil & Gas Exploration and Production, Sector Other Oil & Gas Exploration and Production, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC, Chief Executive Officer & Executive Director, Chief Financial Officer & Executive Director, Chief Operating Officer & Executive Director, Senior Independent Non-Executive Director. The report said that most of the transactions occurred after Seplat was publicly listed in London and Lagos exchanges in 2014. Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. Off Adeola Odeku Street, Victoria Island According to the Bloomberg report cited, Seplat made payments to 18 companies associated with its founders, Austin Avuru and ABC Orjiako for services rendered. This can indicate that the company has a certain degree of credibility in the investment community. It might be worth looking deeper into this. But to understand Seplat Petroleum Development better, we need to consider many other factors. Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. Seplat is demanding the sum of $5 billion in damages. Seplat, a Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and the London Stock Exchange, is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of Mobil Producing Nigeria Unlimited assets. 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? Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. Maurel & Prom is an oil and gas exploration and production company listed on the regulated market of Euronext Paris.With a history of almost two centuries, Maurel & Prom has, both at its headquarters in Paris and in its subsidiaries, a solid technical expertise and a long operational experience, especially in Africa. You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. Those businesses were connected to both Orjiako and Avurus family members. Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Net sales break down by family of products as follows: - natural gas (21.2%). At the end of 2020, the group operated 7 onshore blocks located in Nigeria. Transparency is how we protect the integrity of our work and keep empowering This article by Simply Wall St is general in nature. How much do Seplat Petroleum Development Company employees make? While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. By February 13, 2023, Seplat suspended the consultancy agreement with its former Chairman, ABC Orjiako through Amaze Limited. The community relies on everyone sharing. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. When such a trade goes wrong, multiple parties may compete to sell stock fast. 326 E 8th St #105, Sioux Falls, SD 57103 The company was formerly known as Seplat Petroleum Development Company Plc and changed its name to Seplat Energy Plc in May 2021. Seplat is a small oil and gas Delayed London Stock Exchange View the best growth stocks for 2023 here. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. (function () { .uniq_1764707858073873 { Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. The company employs 528 workers across the globe. Sign up here. click here to see if those insiders have been buying or selling. This may not be consistent with full year annual report figures. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. WebWhat is the ownership structure of SEPL? Post was not sent - check your email addresses! Kano State, Port-Harcourt It might be worth looking deeper into this. Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger Our goal is to create a safe and engaging place for users to connect over interests and passions. The same can be achieved by studying analyst sentiments. Simply Wall St has no position in any stocks mentioned. Cookies necessary to ensure the optimal functioning of our website. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. height: calc((850px) * 9 / 16); We aim to bring you long-term focused analysis driven by fundamental data. All rights reserved. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. According to sources at Seplat, this singular act gave rise to a double whammy within Seplat; However, in early March 2023, the company CEO, Roger Brown had said Seplat was committed to pursuing the MPNU acquisition deal before a new president is sworn in by the end of May 2023. The companys share price in the last year is down 7% and 19.1% respectively on the NGX and the London Stock Exchange respectively. click here to see if those insiders have been buying or selling. SEC TOWERS, Plot 272, Samuel Adesujo Ademulegun Street, Central Business District P.M.B:315, Garki, Abuja +234 (0) 94621100; +234 (0) 94621168 Email: sec@sec.gov.ng. Our daily ratings and market update email newsletter. Read what they think about their salaries on our Compensation FAQ page for Seplat Petroleum Development Company. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. Alex de Minaur has been beaten by qualifier Aslan Karatsev in the Madrid Open.19 went down 6-3 4-6 6-4 to the Russian, who is ranked 101 places below him, but is a former top-20 player. Meanwhile, the case has been adjourned to May 16, 2023, to continue the hearing. Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new Receive SEPL Stock News and Ratings via Email. NRL chief executive Andrew Abdo invoked his power for the match review committee to consider their charges before Josh Reynolds was cited for Sunday's outburst at officials.Reynolds has been hit with a grade-one contrary conduct charge after his halftime abuse of referee Grant Atkins in Canterbury's win over St George Illawarra. 27 Apr 2023 21:46:07 We aim to bring you long-term focused analysis driven by fundamental data. Sources within Seplat told Nairametrics that the series of controversies at Seplat began in February 2022, when the company struck a deal worth as much as $1.6 billion to acquire the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) from US supermajor ExxonMobil. One share of SEPL stock can currently be purchased for approximately GBX 105.40. So they usually pay more attention to companies that are included in major indices. Should You Be Too? A 40% operating ownership of four oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure (NNPC is the 60% partner) The Qua Iboe Terminal, one of Nigerias largest export facilities Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}0. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Read what they think about their salaries on our Compensation FAQ page for , Summer Legal salaries - 3 salaries reported, Project Engineer salaries - 1 salaries reported, Budget Manager salaries - 1 salaries reported, HSE Specialist salaries - 1 salaries reported, Graduate Engineer salaries - 1 salaries reported, Electrical Engineering salaries - 1 salaries reported, Administrative Assistant salaries - 1 salaries reported, Piping Engineer salaries - 1 salaries reported, Joint Venture Planning and Cost Engineer salaries - 1 salaries reported, Internship salaries - 1 salaries reported, Graduate Trainee salaries - 1 salaries reported, Lead Cost Estimator salaries - 1 salaries reported, Warehousing, Rigging & Material Handling salaries - 1 salaries reported, Senior Metering Engineer salaries - 1 salaries reported, Mechanical Engineer salaries - 1 salaries reported, Operations salaries - 1 salaries reported, Contractor salaries - 1 salaries reported, Reservoir Engineer salaries - 1 salaries reported, Business Management Graduate Scheme salaries - 1 salaries reported. That's interesting, because hedge funds can be quite active and activist. Sources within the company mention that there are some aggrieved parties who may be working against the company to further their own agenda threatening to impact Seplats long-term success if they are not addressed. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. 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. 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. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. Cookies to allow a better understanding of the use and performance of our website, to produce statistics, and to improve your browsing experience. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. The official announcement can be viewed at this link. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. This might be a strategic stake, so it's worth watching this space for changes in ownership. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? But just like anyone else, they could be wrong. The Australian Ballet will showcase two world premiere dance pieces as part of its 60th anniversary.The double bill Identity features Paragon by resident choreographer Alice Topp. In the chart below, we zoom in on the different ownership groups of Seplat Energy. Seplat Petroleum Development is not owned by hedge funds. Seplat Petroleum Development Company (SEPLAT) is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with a strategic focus in the Niger Delta of Nigeria. Get in touch with us directly. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. Join the It also benefited from a USD350 In their own names, insiders own UK17m worth of stock in the UK584m company. We project Seplat to be broadly FCF-neutral in 2021-2025. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Get in touch with us directly. Seplat Energy also announced that the Lagos Federal High Court has vacated the ex parte interim orders against Seplat, its Chief Executive Officer, and its Board Chairman. It's always worth thinking about the different groups who own shares in a company. 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. This shows at least some alignment. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. 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. The ex-dividend date is Wednesday, May 17th. 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. 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. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Payout ratios above 75% are not desirable because they may not be sustainable. The investors who had purchased shares after the initial deal was struck and were worried about the flip-flopping of the Nigerian government. Management ultimately answers to the board. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Seplat Energy Plc says it is ready to move on from its challenges. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. At the same time, Seplat filed a suit with No FHC/ABJ/CS/386/2023, at the Federal High Court Abuja, on March 21, 2023, accusing Dr. Orjiako of acting unilaterally when he communicated with the Federal Government over a business transaction worth over $300 million, allegedly without the consent of the companys Board of Directors. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. 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. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. 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 March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. The company also engages in the renewable energy generation activities. Rivers State. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. have bought more shares than they have sold in the past 3 months. 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.

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