Seplat Plc concludes one year extension of revolving credit facility

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July 3 – Seplat Petroleum Development Company Plc :

* Concluded one year extension of its revolving credit facility (RCF) until Dec. 31, 2018

* Current three year RCF was due to expire at the end of 2017

* Facility now expires on Dec 31, 2018 and amended to amortise remaining outstanding principal balance of $150 million in equal instalment

Pursuant to Clause 17.2 of the Amendments to the Listings Rules (the “Rules”) of the Nigerian Stock Exchange (the “Exchange”), please be notified that Seplat Petroleum Development Company Plc (“SEPLAT”) will be in a Closed Period for the whole company, commencing on 1st July 2017 and expiring on 28th July 2017, as set out below, in relation to matters contained in Section 16.2 of the Rules.

In furtherance thereof, please see below the notice that was circulated to SEPLAT Directors, external Insiders and the whole Company on 30th June 2017: “In the run up to the announcement of the 2017 Half Year Results of SEPLAT, please be aware that a Closed Period on SEPLAT Share Dealings for the entire Company, SEPLAT Directors and SEPLAT Insiders will commence on Saturday, 1st July 2017.

Therefore, you and your “Connected Persons”, as described under the SEPLAT Share Dealing Policy, are not expected to and must not trade in SEPLAT Shares from 1st July 2017 until 28th July 2017, both dates inclusive.

In accordance with the provisions of SEPLAT’s Share Dealing Policy, “Connected Persons” include:
1.       The spouse

2.      Children (including step-children)

3.      Relative who, at the relevant date, occupied the same household as the Applicable Person or Restricted Person, for at least 12 months

4.      Agent or nominee, including an investment manager managing funds on behalf of the Applicable Person or Restricted Person

5.      A trust of which the Applicable Person (or Restricted Person) or any person connected to him/her (or any member of their family or any associated company) is the trustee or beneficiary (other than a trust for the purposes of an employee share scheme or a pension scheme)

6.      Person in partnership with the Applicable Person (or Restricted Person) or any person connected to him/her

7.      A legal entity in which the Applicable Person (or Restricted Person) or his/her connected person is a partner, or where a partner is a firm in which the Applicable Person or his/her connected person is a partner

8.     A company which the Applicable Person (or Restricted Person) or his/her connected person or either of their family member controls

9.      A company in which the Applicable Person (or Restricted Person) or his/her connected person is a director or senior executive who has the power to make management decisions affecting the future development and business prospects of that company

10.  A company in which the Applicable Person (or Restricted Person) or his/her connected person controls, or can exercise, more than 20% of the voting power or are interested in at least 20% (in nominal value) of the issued shares (excluding Treasury Shares).

 

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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