To get a sense of who is truly in control of Seplat Energy Plc (LON:SEPL), it is important to understand the ownership structure of the business. To everyones dismay, President Buhari reversed his earlier approval by August 10, 2022, blaming his indecision on the lack of coordination among sector agencies. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. contact@marketbeat.com 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. We can report that insiders do own shares in Seplat Energy Plc. This risk is higher in a company without a history of growth. As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. 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? On looking further, we found that 56% of the shares are owned by the top 5 shareholders. } You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. 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. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. 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. The company employs 528 workers across the globe. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. The community relies on everyone sharing. 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. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. This shows at least some alignment. Seplat is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of assets. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. According to him, it is not a good sign for corporate governance. -, 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 official website for the company is seplatpetroleum.com. Since then, SEPL shares have increased by 0.4% and is now trading at GBX 105.40. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. 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. childNetworkId = '21634543682', 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. Our data indicates that hedge funds own 9.0% of Seplat Energy. WebSEPLAT Energy PLC (SEPL) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. According to the Bloomberg report cited, Seplat made payments to 18 companies associated with its founders, Austin Avuru and ABC Orjiako for services rendered. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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. Sign up here. Seplat Energy (LON:SEPL) has a market capitalization of 620.22 million and generates 951.80 million in revenue each year. 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. have bought more shares than they have sold in the past 3 months. Payout ratios above 75% are not desirable because they may not be sustainable. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. Seplat Energy Plc Insider Trading & Ownership Structure Check out our latest analysis for Seplat Petroleum Development. 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. No: 1000005401 Furnish details of company ownership and shareholding structure. 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. I find it very interesting to look at who exactly owns a company. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. 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What is the dividend yield for Seplat Energy? Following the request, the State High Court issued an ex-parte order of interim injunction, which prohibited the defendants from finalizing any divestment in MPNU, including the sale and purchase agreement (SPA) signed with Seplat Energy Offshore Limited, while the case was pending before the court. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. 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. Transparency is how we protect the integrity of our work and keep empowering 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. 5b Isaiah Odolu Street, GRA phase 2 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 It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. Seplat Petroleum Development Company Is this your company? The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, Meanwhile, individual investors make up 30% of the companys shareholders. Cookies to allow a better understanding of the use and performance of our website, to produce statistics, and to improve your browsing experience. Read our dividend analysis for SEPL. 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()? Also submit photocopies of its CAC Forms CO2 and CO7. It seems that Private Companies own 47%, of the Seplat Energy stock. 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. Public companies currently own 21% of Seplat Petroleum Development stock. Our data reflects individual insiders, capturing board members at the very least. African Alliance House (4th Floor), F1, Sani Abacha Way/Airport Road, Opposite KLM Airlines The S&P; 500 and the Dow edged higher as JPMorgan shares rose after the lender said it will buy most of First Republic Bank's assets, while investors refrained from making big bets ahead of the Federal Reserve's policy decision this week.JPMorgan Chase & Co's shares rose 2. WebSeplat Petroleum Development Company Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. The deal would have seen a boost in Seplats production to 146,000 barrels of oil equivalent per day (boepd) and see its proven and probable liquids reserves jump from 241 million barrels to 650 million barrels. The company management answer to the board and the latter should represent the interests of shareholders. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. Copyright 2019, Securities & Exchange Commission, Nigeria. What Seplat is buying from Mobil. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. It operates a seven oil and gas In March 2023, the company decided to terminate the contract due to repeated corporate governance breaches of a material nature, such as unilaterally making significant commitments on behalf of Seplat and using the companys letterhead to communicate said commitments without prior approval by the Board. In their own names, insiders own UK17m worth of stock in the UK584m company. ExxonMobil Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. In their own names, insiders own UK8.1m worth of stock in the UK297m company. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. Receive SEPL Stock News and Ratings via Email. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. Copyright 2023 Surperformance. 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. Please read our Financial Services Guide before deciding whether to obtain financial services from us. Those businesses were connected to both Orjiako and Avurus family members. 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. Nigeria: Seplat Shareholders Upbeat As Brown Resumes As CEO This may not be consistent with full year annual report figures. Afolabi Folorunso, who was General Manager West, is now Managing Director Seplat West Ltd, with a portfolio that includes OMLs 4, 38 and 41, the acreages upon 337927). Seplat Energy's stock was trading at GBX 105 at the start of the year. SEPLAT Fitch Upgrades Seplat to 'B'; Outlook Stable - Fitch Ratings max-width: 850px; Rivers State. Our daily ratings and market update email newsletter. You can click here to see if those insiders have been buying or selling. 326 E 8th St #105, Sioux Falls, SD 57103 Structure Luckily, you can check this free report showing analyst forecasts for its future. It's hard to say for sure but this suggests they have entwined business interests. Our goal is to create a safe and engaging place for users to connect over interests and passions. 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. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. 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. But to truly gain insight, we need to consider other information, too. What is Seplat Energy's stock price today? SEPLAT ENERGY PLC : Shareholders Board Members 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. Seplat Energy Plc's (LON:SEPL) largest shareholders are private Case in point: We've spotted 6 warning signs for Seplat Petroleum Development you should be aware of. Based on aggregate information from My MarketBeat watchlists, some companies that other Seplat Energy investors own include Alphabet (GOOG), Brookdale Senior Living (BKD), CenterPoint Energy (CNP), American Cannabis (AMMJ), Novus Therapeutics (NVUS), NextEra Energy (NEE), GSK (GSK), AFR.L (AFR), Cellectis (CLLS) and N Brown Group (BWNG). Private companies may also have a strategic interest in the company. 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. }. On Tuesday, April 25, Seplat Energy Plc which is listed on both the Nigerian Exchange Limited and the London Stock Exchange, announced a Boardroom succession plan that will help the company move on from recent challenges and strengthen corporate governance. View which stocks are hot on social media with MarketBeat's trending stocks report. Please log in to your account or sign up in order to add this asset to your watchlist. 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. Sky Sports News on Twitter: "Aston Villa CEO, Christian Purslow Seplat: Roger Brown Overhauls the Leadership, Runs with Four Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos Meanwhile, On July 11, 2022, Seplat announced that the Nigerian National Petroleum Company Limited (NNPCL) had initiated legal action in the State High Court of the Federal Capital Territory in Abuja. Cookies necessary to ensure the optimal functioning of our website. The general public, with a 28% stake in the company, will not easily be ignored. It also benefited from a USD350 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. WebCompany profile for SEPLAT Energy PLC including key executives, insider trading, ownership, revenue and average growth rates. 27 Apr 2023 21:46:07 See what's happening in the market right now with MarketBeat's real-time news feed. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. Delayed London Stock Exchange 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. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. 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. Notably, sometimes top-level managers are on the board themselves. Seplat Petroleum Development is not owned by hedge funds. The company earns 62.41 million in net income (profit) each year or GBX 0.09 on an earnings per share basis. Seplat As of March 2021, Seplats board led by Orjiako, announced that the company would eliminate all related-party transactions. More cases of child neglect in South Australia have emerged a week after an extremely rare string of manslaughter charges were laid.Two women have been bailed to appear in an Adelaide court in June over the alleged criminal neglect of three children. 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(function () { 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. 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. 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Seplat The dividend payout ratio is 8,888.89%. 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. 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. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. 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.
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