01.06.2021 press Release. Governance at MTN is structured in line with best practice and is substantially cascaded down to subsidiaries across the Group. 1. This is the first time that Moody's has assigned ratings to Seplat. 2. Nr. The company started trading on 28 August 2009. Nigerian oil and gas company Seplat Energy has inked an agreement to acquire ExxonMobil's subsidiary holding the company's shallow water assets off Nigeria in a bid to drive its growth strategy, forge a sustainable business, and achieve energy transition goals. According to the latest confirmation statements submitted on the 2020-12-31, there are currently 27 directors. Oando is the Nigerian oil marketer/ explorer that is the poster boy of convoluted ownership structure, opaque dealings and . Seplat Energy has declared an interim dividend of 2.5 cents ($0.025) per ordinary share of N0.50k. ($4.28 billion) bid for minority holdings in struggling wind turbine unit Siemens Gamesa, hoping to remove a complex ownership structure that has weighed on its shares. Also, we do not see any possible dilution of shareholders' stake in UAC despite the rights issue by UPDC as the 64% rights (N10.21 billion) to be taken up by UAC will fully be settled with the N15.84 billion intercompany . SEPLAT will communicate only with authorized officers of the qualifying bidders at each stage of the tender process, as necessary, and will NOT communicate through individuals or appointed agents. Seplat Petroleum is one of two companies that have made public offerings in the last six years. FBNHoldings drives the Group coordination, collaboration, and synergies across the business groups to deliver innovative . parte motion requesting that Access Bank. CARDINAL DRILLING Nigeria - Homepage. FBN Holdings Plc is a well-diversified and one of the largest financial services organisations in Africa. . This tender and any related process neither creates any commitment by SEPLAT nor establish any legal relationship. We expect the share price of UACN to further increase, having risen by 34.44% to N6.05 as at Wednesday, September 11, 2019. FIGI: BBG006G2Q158: Institutional Owners: 0 total, 0 long only, 0 short only, 0 long/short - change of % MRQ Overview; Chart; Owners . Key capabilities and services include: Petroleum exploration and production . SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC(ON BEHALF OF THE NPDC/SEPLAT JOINT VENTURE)TENDER OPPORTUNITY: PROVISION OF PERSONAL PROTECTIVE EQUIPMENT 1. Quality, Value, Ownership Undervalued - Ebit/EV + B/M Blend Quality, Value, . . Companies that used to be publicly owned tend to have lower insider ownership. Corporate structure and business. DE:134GF / Seplat Energy Plc - Institutional Ownership - Buyers. SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios. Greenville is supplying LNG to customers in remote locations of Nigeria. Cardinal Drilling Nigeria Ltd over a loan taken from Diamond Bank Plc (since. The Board delegates its authority to committees with the mandate to deal with relevant governance . Structure of Mergers A merger can be done by; a) purchase or lease of shares, interests or assets in the other company (s), b) by amalgamation or other combination with the other company (s), or c) by a joint venture. The company registration number is SC364753, It's listed as Active. Short Interest . This, the stakeholders believe will ensure that there is a win-win situation for the nation, the producers and off-takers of Nigerian gas. Generally speaking, as a company grows, institutions will increase their ownership. acquired by Access Bank Plc) for which the latter has been unable to fully. Seplat Petroleum Development Company Plc, held its hybrid 8th Annual General Meeting (AGM) with shareholders, auditors, regulators, company directors, and the media, amongst other stakeholders joining physically and virtually. Plc take over SEPLAT's head office premises. In. An Azura Power company, Azura-Edo is an independent power producer (IPP) committed to contributing to the growth of the energy sector in Nigeria. At the end of 2020, the group operated 7 onshore blocks located in Nigeria. . The company's entry level salary is between 6,000,000 - 9,000,000 per annum. Also, provide evidence of registration on NOGICD JQS. Corporate structure and business. Corporate governance is the cornerstone of our business and ensures that we work responsibly as required by King IV. 3. He is also a founding member of the London Stock Exchange Group's Africa Advisory Group ('LAAG'). 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 provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 for Nigerian Content Development. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. Shareholder Structure. NNPC moves to stop $1.6bn Seplat, ExxonMobil deal with major counter-offer TotalEnergies, NNPC's joint project on course, says FG Fuel scarcity won't spread to Lagos, others - Marketers This has been a contentious issue within the industry as the grouse has been that "non-producers of gas as well as the ownership structure of the Company skewed unfavorably against high productivity and returns that will benefit domestic industry . Plc take over SEPLAT's head office premises. which includes a 40 per cent operating ownership of four oil mining leases . Cardinal Drilling Nigeria Ltd over a loan taken from Diamond Bank Plc (since. by providing details of company ownership and shareholding structure (form C02 and COT). Seplat Energy Plc- Invitation To Tender For The Provision Of Operations And Maintenance Support For National Oil Well Varco (NOV) Pumps Sets At Western Asset Locations (Amukpe, Oben And Sapele) . Examples of Seplat in a sentence. It is structured along Commercial Banking, Merchant Banking, Capital Markets, Trusteeship, and Insurance brokerage. earnings-and-revenue-growth Seplat Petroleum Development is not owned by hedge funds. There is need to conduct "Lifting the Corporate Veil" to unmask the ownership structure of Cardinal Drilling, including the Directors. If the plan comes through, the ownership structure of the nation's petroleum assets will begin to change hands and subsequently the restive host region, which has for decades suffered economic . 5. On the plus side, Eland will add around 6,000-10,000 barrels of oil per day (bopd) of production and its complex structure means Seplat will get 45 per cent of cash from its production from an effective ownership of 20 per cent. The oil firm informed the market that one of its shareholders, Sustainable Capital Africa Alpha Fund, has acquired a direct shareholding of 30,071,128 units based on the issued share capital of 588,444,561 units of shares, giving the company a 5.11% ownership stake in Seplat. 1. For context, the second largest shareholder holds about 9.1% of the shares outstanding, followed by an ownership . Lagos Seplat Energy PLC Head office 16A Temple Road Ikoyi Lagos Nigeria London Seplat Energy UK Ltd 4th Floor 50 Pall Mall London SW1Y 5JH United Kingdom INTRODUCTION:Seplat wishes to engage local vendors who have demonstrated capability in manufacturing and supply of personal protective equipment for its workforce. Seplat's debt financing of $825 million is fully committed by a syndicate of Nigerian and African banks, and energy and commodity traders. Seplat is operator of the three blocks, which together form one contract area, on . Many look for medium term catalysts that will. 3. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Every investor in ST Energy Transition I Ltd. (NYSE:STET) should be aware of the most powerful shareholder groups. The effective date is 1 January 2021 and completion is expected in H2 2022, pending ministerial approval. Seplat Q3 2016 Interim Result - Note 19, page 46. Seplat has agreed to pay $1,283 million plus a contingent consideration of up to $300 million. CARDINAL DRILLING Nigeria - Homepage. FMDQ Group PLC maintains an organisation philosophy that consistently aligns with the Group's strategy and global best practices, to ensure the actualisation of its vision. IP Group Plc is currently the largest shareholder, with 11% of shares outstanding. . Aiteo is an integrated, total-solution energy company that extracts, transports, stores and distributes oil and gas products in the Nigerian, West African and international markets. 2009 2008 . How Healthy Is Seplat Petroleum Development's Balance Sheet? . Entry in Gabon and Tanzania Entry into Colombia and Venezuela through the purchase of Hocol . 1. What is more, in 2014, Seplat became the first Nigerian company to acquire a UK-listed company, Eland Oil & Gas Limited. The problem appears to be related to a dispute between Access Bank and. Seplat under his leadership, has become a highly reputable Nigerian Independent recording several milestones and firsts; successfully closing landmark acquisitions, growing exponentially under a strong and transparent corporate governance framework. Therefore, the Total Nigeria plc, Ownership structure of MOL Plc. acquired by Access Bank Plc) for which the latter has been unable to fully. Seplat 2019 Audited Report - Note 42, page 226. Corporate structure and business . Seplat boasts of over $2.8 billion in assets and over $500 Million in market capitalization. Seplat has a 45 per cent working interest in OMLs 4, 38 and 41 which are located in Edo (OML 4) and Delta (OMLs 38 and 41) states onshore Nigeria. 6. Section 92 (1) (b) of the Federal Competition and Consumer Protection Act (FCCPA). 4. Retail Ownership Institutional Owners Net Long/Short Value Top Mutual Funds Top ETFs Buyers Sellers. Seplat Petroleum Development Company Plc (''Seplat'' or the ''Company''), the parent of the Group, was incorporated on 17 June 2009 as a private limited liability company and re-registered as a public company on 3 October 2014, under the Company and Allied Matters Act 2004. The registration is not mandatory. The B2 rating assigned to the proposed notes is the same as Seplat's B2 CFR and benefits from various subsidiaries' guarantees including Seplat West Ltd, which owns the core production assets under the OMLs 4, 38 and 41 licences, representing 72% of total revenues, 83% of EBITDA and 76% of working interest production. The study employed descriptive statistics and . 134GM Institutional Ownership - Seplat Energy Plc (XMUN) Stock. SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC(ON BEHALF OF THE NPDC/SEPLAT JOINT VENTURE)TENDER OPPORTUNITY: PROVISION OF PERSONAL PROTECTIVE EQUIPMENT 1. Underpinning Seplat is a strong balance sheet and profitable production base with a balanced mix of oil and gas. 3. Seplat Petroleum Development Company Plc Annual Report and Accounts 2019 87. Every investor in Phillips Edison & Company, Inc. ( NASDAQ:PECO) should be aware of the most powerful shareholder groups. Johnson Chukwu, in a telephone interview, said the current ownership structure of International . Provide evidence of registration on NOGICD JQS portal. Complex Group Structure: DTEK O&G is a part of larger group - DTEK B.V. group, which is a private energy corporation in Ukraine with main subsidiaries including DTEK Energy, DTEK Renewables (B-/Stable), DTEK O&G, DTEK Trading and other companies. Structure. That's interesting, because hedge funds can be quite active and activist. In its financial statement, the company noted that the dividend is subject to the appropriate withholding tax and will be paid to shareholders whose names appear in the registry of members at the close of business on Aug. 12.. Seplat Energy recorded a profit before tax of $62.1 million for H1 2020. Our Group Structure thus enables the Group's agenda to promote shared understanding, balanced allocation of responsibilities and effective monitoring of organisation output. The proposed strategy will utilize the NipeX contracting platform to run the . The Managing Director of GACN reports to the Board (which structure is as revealed above). The Board is made up of eleven (11) individuals from diverse academic and professional backgrounds of which six (6) are non-executive directors. "Seplat's B2 CFR and B2-PD ratings with a stable outlook reflect its small scale with production of 36,923 barrels of oil equivalent per day (boe/d) and revenues of $452 million for the financial year ended 31 December 2017 says Douglas . Sale of Hocol Colombia to Ecopetrol. INTRODUCTION:Seplat wishes to engage local vendors who have demonstrated capability in manufacturing and supply of personal protective equipment for its workforce. The 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 Seplat's 2P reserves and 2C resources base by 9.6% to 615 MMboe. Seplat Energy Share Chat. SEPLAT Plc Refutes Being Party to Cardinal Drilling Services Loan with Access . Nigerian oil and gas company Seplat Energy has inked an agreement to acquire ExxonMobil's subsidiary holding the company's shallow water assets off Nigeria in a bid to drive its growth strategy, forge a sustainable business, and achieve energy transition goals. 2. ownership structure on the dividend policy of Japanese firms with free cash flow problem with 986 observations from 1992 to 2000. The plant is designed to help close Nigeria's > 10, 000 MW energy gap (source: Centre for Global Development) whilst paving the way to a sustainable energy mix by providing grid stability and black . Retail Ownership Institutional Owners Net Long/Short Value Top Mutual Funds Top ETFs Buyers Sellers. . The outlook on the ratings is stable. Executive and strategic leadership 2. . Seplat Energy's $318m cash generation, huge capital investment drive shareholders' fortune. Orjiako said the company would selectively invest in low risk oil production . Please note, that data above do not fully reflect the ownership structure in the Share Register. SEPLAT Plc Refutes Being Party to Cardinal Drilling Services Loan with Access . The shareholder may exercise its rights towards the company, if the shareholder is registered in the Share Register. Strategy 10 12 7 10 8 8 10 Corporate strategy 21 Finance 21 Structure andcapital 15 Risk management and internal control 10 Corporate governance and ESG 33 Board composition as at 23 March 2020 Chairman 1 . Seplat 2019 Audited Report - Note 42, page 226. The proposed strategy will utilize the NipeX contracting platform to run the . Seplat's Chairman, Dr. A.B.C. Under Orjiako's chairmanship of Seplat, the company has injected over $71 Million into providing services to host communities. With the approval-in-principal license for PSB, the proposed 5G deployment, and the recently diversified ownership structure which made MTN shares publicly available to the general public on December 1, 2021, these actions explain a positive outlook for the stock. 134GM Institutional Ownership - Seplat Energy Plc (XMUN) Stock. on 8 March 2022. Generally speaking, as a company grows, institutions will increase their ownership.. the family has built up their ownership stake in KCB Group over the years, from less . The Nigerian National Petroleum Corporation owns 60% of the venture with Chevron having 20% and Texaco having the remaining 20%. MERGERS & ACQUISITION IN NIGERIA. Corporate Structure and business . Petroleum giant Seplat Petroleum Development Company was founded in 2009 by billionaire oil magnate and surgeon Dr Ambrose Bryant Chukwueloka "ABC" Orjiakor and the company's current Managing Director and CEO Mr Austin Avuru. 1. Seplat Petroleum Development Company Plc (''Seplat'' or the ''Company''), the parent of the Group, was incorporated on 17 June 2009 as a private limited liability company and re-registered as a public company on 3 October 2014, under the Company and Allied Matters Act 2004. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Orjiako, stated this in his welcome address to shareholders at the company's sixth Annual General Meeting in Lagos, Nigeria. FIGI: BBG006G2Q158: Institutional Owners: 0 total, 0 long only, 0 short only, 0 long/short - change of % MRQ Overview; Chart; Owners . Companies that have been privatized tend to have . This change in the ownership structure of BOC Gases Nigeria Plc was effective since 13th day of August 2021. Chevron Nigeria is the third largest oil producer in Nigeria with a production capacity of 230,000 barrels of crude oil daily. Seplat Petroleum Development Company Plc ('Seplat' or the 'Company'), the parent of the Group, was incorporated on 17 June 2009 as a private limited liability company and re-registered as a public company on 3 October 2014, under the Companies and Allied Matters Act, CAP C20, Laws of the Federation of Nigeria . Nigerian oil and gas company, Seplat Petroleum Development Company Plc has reiterated its commitment to stronger growth and improved returns to shareholders. The effective date is 1 January 2021 and completion is expected in H2 2022, pending ministerial approval. Conversely, insiders often decrease their ownership over time. Seplat supplies gas to three power plants that are responsible for the 40 per cent of power supply in Nigeria and employs over 400 . The bid at 18.05 euros per share constitutes a premium of 27.7% over the last unaffected closing share price of . Retail Ownership Institutional Owners Net Long/Short Value Top Mutual Funds Top ETFs Buyers Sellers. ELAND OIL & GAS LIMITED is a Private limited company (Ltd.) company based in 28 ALBYN PLACE ABERDEEN, United Kingdom, which employs 27 people. . Seplat Q3 2016 Interim Result - Note 19, page 46. 2. MTN remains a very good buy. 2007 2006 . parte motion requesting that Access Bank. Otike-Odibi said that the impact of the acquisition would be positive for all the company's stakeholders. . 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 provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 for Nigerian Content Development. Access Bank Plc was incorporated in 1989 as a private limited liability company with ownership residing with Nigerians and Nigerian institutional investors. Entry into Nigeria with Seplat. It looks like hedge funds own 5.7% of Seplat Petroleum Development shares. SEPLAT ENERGY PLC (NGX: . The company provides drilling rigs and drilling services to Seplat.. Seplat Petroleum Development Company Plc ('Seplat' or the 'Company'), the parent of the Group, was incorporated on 17 June 2009 as a private limited liability company and re-registered as a public company on 3 October 2014, under the Companies and Allied Matters Act, CAP C20, Laws of . Companies that used to be publicly owned tend to have lower insider . 5. Seplat refinanced debt with $1 billion of new facilities provided by Nigerian banks split between a $700 million seven-year tranche and a $300 million three-year loan, it said in an e-mailed statement in January 2015. . 5. Seplat Q1 2019 Interim Result - Note 24, page 35. Oando's Board of Directors serve as the prudent fiduciary for shareholders and is responsible for proper management of the Company. The current directors of Oando PLC are as follows: