HEIRS ENERGIES RAISES COMBINED SEPLAT STAKE TO 21.07%

Heirs Energies Limited has increased its position in Seplat Energy Plc after acquiring six million additional shares on the London Stock Exchange.

The transaction, executed on September 30 at £8.87 per share, raised Heirs Energies’ direct holding in Seplat to 27,943,867 ordinary shares.

When combined with the existing shares held by Heirs Holdings Limited, entities affiliated with businessman Tony Elumelu now control 126.4 million Seplat shares.

The combined holdings represent a 21.07 per cent voting interest in Seplat Energy, which has 599,944,561 issued ordinary shares.

The transaction was disclosed to both the Nigerian Exchange and the London Stock Exchange in line with applicable market disclosure requirements.

The latest acquisition further strengthens Elumelu-linked interests in Seplat at a time when indigenous energy companies are increasing their participation in Nigeria’s oil and gas industry.

Seplat Energy is one of Nigeria’s major independent oil and gas producers, with operations focused on oil and gas production and energy development.