As of March 2021, Seplats board led by Orjiako, announced that the company would eliminate all related-party transactions. 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. In the chart below, we zoom in on the different ownership groups of Seplat Energy. American Consumer News, LLC dba MarketBeat 2010-2023. 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 Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company.
How Much Of Seplat Petroleum Development Company Plc 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. One share of SEPL stock can currently be purchased for approximately GBX 105.40. The official announcement can be viewed at this link. They too, get it wrong sometimes.
Inside Seplat's turbulent Board Room: Legal Battles, accusations Lagos State, Kano Kano It's hard to say for sure but this suggests they have entwined business interests. 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. childNetworkId = '21634543682', Our goal is to create a safe and engaging place for users to connect over interests and passions. Cookies to allow a better understanding of the use and performance of our website, to produce statistics, and to improve your browsing experience. 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. Get daily stock ideas from top-performing Wall Street analysts. Glassdoor provides our best prediction for total pay in today's job market, along with other types of pay like cash bonuses, stock bonuses, profit sharing, sales commissions, and tips. All rights reserved. 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.
SEPLAT ENERGY PLC : Shareholders Board Members 3, Idejo Street, Opposite ICON House, ','+childNetworkId.trim():'';xmlhttp.open("GET", 'https://pubads.g.doubleclick.net/gampad/adx?iu=/147246189'+child+'/'+adunit+'&sz='+encodeURI(size)+'&t=Placement_type%3Dserving&'+Date.now(), true);xmlhttp.send();})(); !function(){var t="611a52ccd5cc7aa94a532b7d",e="widget_611a52ccd5cc7aa94a532b7d",a=document.createElement("script");a.type="text/javascript",a.setAttribute("data-cfasyn","false"),a.src="https://widget-cdn.ketshwa.com/m/p/611a52ccd5cc7aa94a532b7d/1256.js",a.async=!0,document.body.appendChild(a),a.onload=function(){KetshwaSDK.showWidget(t,e)}}(); Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |, Afrihealths Rigour+ aims to tackle medical brain drain, and counterfeit drugs in Nigeria with innovative healthcare solutions, Leaving the Tarmac: Buying a Bank in Africa shortlisted for BCA African Business Book of the Year, CBN pumps N701 billion back into circulation in March 2023 to ease cash at ATMs. 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. This article by Simply Wall St is general in nature. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. If you are like me, you may want to think about whether this company will grow or shrink. So they generally do consider buying larger companies that are included in the relevant benchmark index. 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. Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. View the best growth stocks for 2023 here. How often does Seplat Energy pay dividends? 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. 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. When such a trade goes wrong, multiple parties may compete to sell stock fast. click here to see if those insiders have been buying or selling. 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. The NRL concedes officials missed a crucial knock-on call late in Canberra's golden-point win over the Dolphins.With scores locked at 30-30, Canberra's Hudson Young knocked the ball forward into the arm of Ray Stone, before the Raiders regained possession. SEPLAT, as an indigenous exploration and production company in Nigeria is committed to the development of the capabilities of Nigerian companies in compliance with the provisos of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 for Nigerian Cement Development. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We also tend to see lower insider ownership in companies that were previously publicly owned. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. Our daily ratings and market update email newsletter. 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.
Seplat reveals new shareholder with over 5% equity Our data indicates that hedge funds own 9.0% of Seplat Energy.
Seplat Seplat } 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. Concerned about the content? Secure and increase the performance of your investments with our team of experts at your side. It's always worth thinking about the different groups who own shares in a company.
SEPLAT Includes shallow-water affiliate; ExxonMobil to retain deepwater assets. Sorry, your blog cannot share posts by email. View which stocks are hot on social media with MarketBeat's trending stocks 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. It seems that Private Companies own 47%, of the Seplat Energy stock. Concerned about the content? To see all exchange delays and terms of use please see Barchart's disclaimer. Since then, SEPL shares have increased by 0.4% and is now trading at GBX 105.40. max-width: 850px; 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. According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. In order to improve our community experience, we are temporarily suspending article commenting. The ex-dividend date is Wednesday, May 17th. Transparency is our policy.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. In comparison, the second and third largest shareholders hold about 14% and 7.6% of the stock. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. No: 1000005401 Furnish details of company ownership and shareholding structure. With 47% stake, private companies possess the maximum shares in the company. The community relies on everyone sharing. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. 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. 5b Isaiah Odolu Street, GRA phase 2 By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. When such a trade goes wrong, multiple parties may compete to sell stock fast. 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. Receive SEPL Stock News and Ratings via Email. In other words, the group stands to gain the most (or lose the most) from their investment into the company. Meanwhile, ABC Orjiako responded by denying any wrongdoing in the letter he initiated to the Federal Government to facilitate the consummation of the lingering $1.3 million MPNU deal, saying he acted within the scope of his mandate for the benefit of the company. The company management answer to the board and the latter should represent the interests of shareholders. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The official website for the company is seplatpetroleum.com. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.
Seplat Petroleum Development Company Salaries Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger
SEPLAT But to truly gain insight, we need to consider other information, too. 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.
Of Seplat Petroleum Development Company Plc Notably, sometimes top-level managers are on the board themselves. Seplat Energy announced a dividend on Thursday, April 27th. This shows at least some alignment. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. You have already added five stocks to your watchlist. Seplat Energy Plc says it is ready to move on from its challenges. Liquidity and Debt Structure. I find it very interesting to look at who exactly owns a company. 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. 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. Our model gets smarter over time as more people share salaries on Glassdoor. Many look for medium term catalysts that will drive the share price higher. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. 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 View detailed SEPLAT.NG description & Export data to Excel for your own analysis. Who are the major shareholders and have insiders been buying or selling? 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. To everyones dismay, President Buhari reversed his earlier approval by August 10, 2022, blaming his indecision on the lack of coordination among sector agencies. This risk is higher in a company without a history of growth. But to understand Seplat Petroleum Development better, we need to consider many other factors.
Seplat Petroleum Development Company - AnnualReports.com In their own names, insiders own UK8.1m worth of stock in the UK297m company.
Seplat Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. We aim to bring you long-term focused analysis driven by fundamental data. contact@marketbeat.com However, shortly after President Buharis decision, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) publicly opposed the acquisition during a widely broadcasted television interview. The dividend payout ratio is 8,888.89%. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. 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 other stocks do shareholders of Seplat Energy own? On looking further, we found that 56% of the shares are owned by the top 5 shareholders.
PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. However, on some occasions too much power is concentrated within this group.
ExxonMobil 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. You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. P.M.B:12638 Marina 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. Copyright 2019, Securities & Exchange Commission, Nigeria.
Net sales break down by Alternatively, email editorial-team@simplywallst.com. Director of External Affairs & Sustainability. Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. 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. 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. WebSeplat Petroleum Development Company Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. The company also engages in the renewable energy generation activities. That's interesting, because hedge funds can be quite active and activist. For us, this is a definitive measure of our success and reflects our strong A look at the shareholders of Seplat Petroleum Development Company Plc (LON:SEPL) can tell us which group is most powerful. Our data reflects individual insiders, capturing board members at the very least. }. In their own names, insiders own UK17m worth of stock in the UK584m company. Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}0. Researching institutional ownership is a good way to gauge and filter a stock's expected performance.
SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC: INVITATION View our latest analysis for Seplat Energy. 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). Check out our latest analysis for Seplat Petroleum Development. 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. Essendon dasher Sam Durham has been slapped with a one-match ban for a dangerous tackle on Geelong's Mark Blicavs.Durham is the latest player cited under the AFL's crackdown on dangerous tackles, after slinging Blicavs to the MCG turf in the third quarter of Essendon's 28-point loss on Sunday. We aim to bring you long-term focused analysis driven by fundamental data. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? 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. Meanwhile, the company will embark on a recruitment process to select a new Board Chairman and establish a new level of corporate governance as the company works to resolve all pending legal issues as well as its acquisition of MPNU assets. 326 E 8th St #105, Sioux Falls, SD 57103 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.
Seplat Upgrade to MarketBeat All Access to add more stocks to your watchlist. } this free report showing analyst forecasts for its future, MasterChef judge Jock Zonfrillo dies aged 46, Crocodile snatches dog in terrifying video footage, F1 world in disbelief over 'terrifying' incident at Azerbaijan Grand Prix, Chaos as millions 'suffer' during Chinese national holiday: 'Dystopian nightmare', Prince Harry to leave UK just two hours after coronation: 'In and out', JPMorgan boosts Wall St, Fed meet in focus, De Minaur defeat costs him chance to take on Medvedev, AFL CEO-elect prefers day grand final timeslot, Donald Trump requests mistrial in rape civil case, Fiji former attorney-general taken into custody, Lions in double injury blow, Power's Duursma sidelined, Umpires got Nathan Murphy non-free kick call wrong: AFL, Charles settles into life as monarch, after long wait, Women charged after children found living in squalor, Essendon's Durham banned for dangerous tackle, Jailed crime boss says he sold footwear, not drugs, Reduced boundaries won't win Ashes for England: Healy, Abdo intervention prompts Reynolds ref abuse charge, Police officer stabbed 'seconds' after arriving at job, Fifth man charged over Sydney gangland shooting, NRL concedes error on crucial golden point call, Government action urged to combat gambling harm, Home-grown ballet double bill celebrates identity, Republican Hipkins has no plans for a NZ Republic, McReight welcomes World Cup 'wrestle' with Hooper. 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. Gambling reform advocates have called on the federal government to create a special unit to address the harm being inflicted across the country.At a symposium in Adelaide on Monday, both the Public Health Association of Australia and the Alliance for Gambling Reform said the unit should sit within the Department of Health and Aged Care. 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. Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. See what's happening in the market right now with MarketBeat's real-time news feed. Identify stocks that meet your criteria using seven unique stock screeners. c) Provide evidence of what .uniq_1764707858073873 { 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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()? Please read our Financial Services Guide before deciding whether to obtain financial services from us. Payout ratios above 75% are not desirable because they may not be sustainable. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. Meanwhile, individual investors make up 30% of the companys shareholders. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. You can click here to see if those insiders have been buying or selling. At that time, the Chief Executive Officer, Gbenga Komolafe stated that based on the Petroleum Industry Act (PIA) of 2021, the NUPRC is the sole regulator in dealing with such matters in the Nigerian upstream sector. Private companies may also have a strategic interest in the company. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company.
Who We Are IRVING, Texas ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its wholly-owned subsidiary Seplat Energy Offshore Limited. 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%.