Avuru share transfer to PSL resulted in no change in beneficial ownership

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SEPLAT Petroleum Development Company Plc notified the Nigerian Stock Exchange (NSE) on Thursday September 5, 2019 that it received notification on September 3, 2019 of a transfer of 904,717 ordinary shares held directly by Austin Avuru, the Chief Executive Officer (CEO) of the Company, to Professional Support Limited (PSL), an entity wholly controlled by Avuru.
The above transaction has not resulted in a change in beneficial ownership, which remains at 12.19percent (Professional Support holds 31,068,211 shares (5.28percent) and Platform Petroleum holds 40,659,695 shares (6.91percent), based on the Issued Share Capital of 588,444,561).

Avuru now holds nil direct interest and an indirect interest of 71,727,906 ordinary shares of N0.50k each of the Company.

Further details of the transaction were set out in an attached notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities (PDMR) and Persons Closely Associated (PCA) 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.

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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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