Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new They participate in particular in security, ergonomics and the choice of language of the website. This may not be consistent with full year annual report figures. 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. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. This shows at least some alignment. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. 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. In September 2022, Bloomberg reported that Seplat Energy spent over $450 million on goods and services provided by companies linked to its two founders between 2010 and 2021. Sign up here. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. In order to improve our community experience, we are temporarily suspending article commenting. 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. Tesla Continues to Defy Expectations, Is it Buyable Again? Seplat Energy announced a dividend on Thursday, April 27th. The official announcement can be viewed at this link. It might be worth looking deeper into this. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. Seplat is demanding the sum of $5 billion in damages. click here to see if those insiders have been buying or selling. Do Analysts' Price Targets Make Domino's Pizza Stock Look Tasty? 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. Secure and increase the performance of your investments with our team of experts at your side. 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. Read our dividend analysis for SEPL. When such a trade goes wrong, multiple parties may compete to sell stock fast. 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. View our latest analysis for Seplat Energy. Payout ratios above 75% are not desirable because they may not be sustainable. Our model gets smarter over time as more people share salaries on Glassdoor. Luckily, you can check this free report showing analyst forecasts for its future. The official website for the company is seplatpetroleum.com. As of March 2021, Seplats board led by Orjiako, announced that the company would eliminate all related-party transactions. Major After ABC Orjiako stepped down as Board Chairman at Seplat, the company had a consultancy arrangement with him, which obliged him to provide defined assistance to certain external stakeholders. Kano State, Port-Harcourt But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. Post was not sent - check your email addresses! The Commission notes that the Board has remained united and that the reported events have not affected the fundamentals of Seplat. No: 1000005401 Furnish details of company ownership and shareholding structure. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. Private companies may also have a strategic interest in the company. He refuted the Presidents approval. 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. By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. How much do Seplat Petroleum Development Company employees make? 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? This might be a strategic stake, so it's worth watching this space for changes in ownership. Liquidity and Debt Structure. You can click here to see if those insiders have been buying or selling. 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 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. As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. Donald Trump has requested a mistrial in a civil case where the writer E Jean Carroll is accusing him of rape and defamation, saying the judge made several "unfair and prejudicial" rulings against him.In an 18-page letter filed early Monday in Manhattan federal court, Trump's lawyer Joe Tacopina accused US District Judge Lewis Kaplan of being biased against the former US president, including in the jury's presence. 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. According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. 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. have bought more shares than they have sold in the past 3 months. Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. It seems that Private Companies own 47%, of the Seplat Energy stock. Get in touch with us directly. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. But to truly gain insight, we need to consider other information, too. 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. Brisbane will be without veterans Dayne Zorko and Daniel Rich for their huge clash with Carlton, while Port Adelaide midfielder Xavier Duursma has been sidelined for up to 10 weeks with a knee injury.The Lions' big win over Fremantle came at a cost with Zorko straining his hamstring and Rich suffering a calf strain, with the pair sidelined for three weeks through injury. Get in touch with us directly. This article by Simply Wall St is general in nature. But just like anyone else, they could be wrong. The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, We aim to bring you long-term focused analysis driven by fundamental data. 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. Cookies necessary to ensure the optimal functioning of our website. 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. Lagos State, Kano 337927). All rights reserved. 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. 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. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. The community relies on everyone sharing. Meanwhile, individual investors make up 30% of the companys shareholders. In line with its core mandate of investor protection, the Commission has sought and obtained explanations from Seplat through its Board of Directors and from the NGX,the primary exchange on which it is listed. Concerned about the content? 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 is the dividend yield for Seplat Energy? 5b Isaiah Odolu Street, GRA phase 2 Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. Seplat Petroleum Development is not owned by hedge funds. Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. For us, this is a definitive measure of our success and reflects our strong 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. 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. 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 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. 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()? On November 17, 2021, Seplat announced that ABC Orjiako would step down from his position as Board Chairman in May 2022. Seplat Energy Plc says it is ready to move on from its challenges.
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