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. This article by Simply Wall St is general in nature. Off Adeola Odeku Street, Victoria Island 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. It also benefits from a USD350 million undrawn RCF due in December 2023 and USD39 million availability under a committed USD50 million junior off-take credit facility due in 2027. So they usually pay more attention to companies that are included in major indices. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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. On November 17, 2021, Seplat announced that ABC Orjiako would step down from his position as Board Chairman in May 2022. Home; Exclusives. 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. 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 The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Stockholders of record on Wednesday, May 17th will be given a dividend of GBX 0.03 per share on Friday, June 16th. Kano Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related The official announcement can be viewed at this link. Meanwhile, the case has been adjourned to May 16, 2023, to continue the hearing. Get daily stock ideas from top-performing Wall Street analysts. Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company, has announced a new shareholder with over Seplat reveals new This risk is higher in a company without a history of growth. By February 13, 2023, Seplat suspended the consultancy agreement with its former Chairman, ABC Orjiako through Amaze Limited. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. Port Harcourt P.M.B:12638 Marina PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. Upgrade to MarketBeat All Access to add more stocks to your watchlist. In order to improve our community experience, we are temporarily suspending article commenting. How often does Seplat Energy pay dividends? You have already added five stocks to your watchlist. 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. Seplat Petroleum Development is not owned by hedge funds. Dilution of Shares: Shareholders have not been meaningfully diluted in the past year. However, the Commission encourages the Board to continue effective dialogue with all stakeholders in dealing with the issues. Seplat Energy announced a dividend on Thursday, April 27th. click here to see if those insiders have been buying or selling. Management ultimately answers to the board. So they generally do consider buying larger companies that are included in the relevant benchmark index. In its 2023 first quarter results, it reported higher revenue of 36.9% to $331 million. They are always enabled. What is the dividend yield for Seplat Energy? Many look for medium term catalysts that will drive the share price higher. This can indicate that the company has a certain degree of credibility in the investment community. 326 E 8th St #105, Sioux Falls, SD 57103 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. This implies the analysts working for those institutions have looked at the stock and they like it. Payout ratios above 75% are not desirable because they may not be sustainable. However, on some occasions too much power is concentrated within this group. 337927). 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. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. This might be a strategic stake, so it's worth watching this space for changes in ownership. 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. Alternatively, email editorial-team@simplywallst.com. In other words, the group stands to gain the most (or lose the most) from their investment into the company. .uniq_1764707858073873 { width: 100vw; Transparency is how we protect the integrity of our work and keep empowering 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. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Please read our Financial Services Guide before deciding whether to obtain financial services from us. The company also engages in the renewable energy generation activities. 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. 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. But to truly gain insight, we need to consider other information, too. American Consumer News, LLC dba MarketBeat 2010-2023. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. The dividend payout ratio is 8,888.89%. 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()? 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. We aim to bring you long-term focused analysis driven by fundamental data. It operates a seven oil and gas Private companies may also have a strategic interest in the company. .css-r1m4lw{background-color:#20262e;border-radius:50%;}.css-r1m4lw > svg > path{fill:#fff;}Add your salary. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. We can report that insiders do own shares in Seplat Energy Plc. 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. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. 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. 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. c) Provide evidence of what 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. Rivers State. It might be worth looking deeper into this. 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. Sources within the company mention that there are some aggrieved parties who may be working against the company to further their own agenda threatening to impact Seplats long-term success if they are not addressed. Seplat Petroleum Development Company Is this your company? On looking further, we found that 56% of the shares are owned by the top 5 shareholders. @media (min-width: 850px) { Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Check out our latest analysis for Seplat Petroleum Development. All rights reserved. It seems that Private Companies own 47%, of the Seplat Energy stock. 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, 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. With 47% stake, private companies possess the maximum shares in the company. 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. But ultimately it is the future, not the past, that will determine how well the owners of this business will do. have bought more shares than they have sold in the past 3 months. ','+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. We can see that Seplat Energy does have institutional investors; and they hold a good portion of the company's stock. Simply Wall St has no position in any stocks mentioned. 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. 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. Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. The Ministry had said that Mr Brown was in possession of a Combined Expatriate Residence Permit and Aliens Card (CERPAC) that was not based on a validly issued Expatriate Quota approved by the Ministry of Interior resulting in the violation of relevant Immigration Laws and Regulations. Have feedback on this article? Its worth noting that neither Seplat Energy nor Seplat Energy Offshore Limited was involved in the lawsuit. 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 View which stocks are hot on social media with MarketBeat's trending stocks report. Lagos State, Kano Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Copyright 2023 Surperformance. Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. 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. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. Quite a few analysts cover the stock, so you could look into forecast growth quite easily. The general public, with a 28% stake in the company, will not easily be ignored. 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. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. This announcement was made after a Federal High Court in Lagos issued a Mareva Injunction restraining ABC Orjiako, and other firms linked to him, from accessing the accounts and assets of Seplat Energy Plc. 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. 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. The company also engages in the renewable energy generation activities. 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. 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. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Seplat is a small oil and gas Our model gets smarter over time as more people share salaries on Glassdoor. Is United Airlines Playing a Game of Limbo with Its Guidance? Concerned about the content? 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. 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? 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. The company earns 62.41 million in net income (profit) each year or GBX 0.09 on an earnings per share basis. Get in touch with us directly. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. 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. Taking a look at our data on the ownership groups (below), it seems that institutional investors have bought into the company. See what's happening in the market right now with MarketBeat's real-time news feed. It's hard to say for sure but this suggests they have entwined business interests. It's always worth thinking about the different groups who own shares in a company. WebSEPLAT EAST ONSHORE LIMITED TENDER OPPORTUNITY: PROVISION OF PRODUCTION CHEMICALS (OML 53 JISIKE & OHAJI ONSHORE FIELDS) NipeX Tender Ref. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. adunit = 'nairametrics.com_336x336_responsive_DFP', You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. Liquidity and Debt Structure. 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. Read our dividend analysis for SEPL. This risk is higher in a company without a history of growth. -, 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. var size='300x250', 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%. Please log in to your account or sign up in order to add this asset to your watchlist. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. Also submit photocopies of its CAC Forms CO2 and CO7. Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}0. 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. According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. 3, Idejo Street, Opposite ICON House, 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. WebWhat is the ownership structure of SEPL? Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously. 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. Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. WebCompany profile for SEPLAT Energy PLC including key executives, insider trading, ownership, revenue and average growth rates. The same can be achieved by studying analyst sentiments. In-depth profiles and analysis for 20,000 public companies. Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. A look at the shareholders of Seplat Petroleum Development Company Plc (LON:SEPL) can tell us which group is most powerful. Ian Healy says England are at risk of overthinking the Ashes series if they push for shortened boundaries against Australia in a bid to suit the hosts' new-found attacking approach to Test cricket.A UK newspaper reported England officials had hoped to utilise smaller grounds this winter, with boundary ropes brought in well off the fence. 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. 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. 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. Public companies currently own 21% of Seplat Petroleum Development stock. Real-time analyst ratings, insider transactions, earnings data, and more. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. By April 2023, Nairametrics reported that the Nigerian Immigration Service dropped all charges against Seplat. } To everyones dismay, President Buhari reversed his earlier approval by August 10, 2022, blaming his indecision on the lack of coordination among sector agencies. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. Copyright 2019, Securities & Exchange Commission, Nigeria. The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, The definition of company insiders can be subjective and does vary between jurisdictions. You can click here to see if those insiders have been buying or selling. 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. WebWhat is the ownership structure of SEPLAT? Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". When such a trade goes wrong, multiple parties may compete to sell stock fast. 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. By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. .uniq_1764707858073873 { Our data reflects individual insiders, capturing board members at the very least. Export data to Excel for your own analysis. These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. Cookies necessary to ensure the optimal functioning of our website. The company management answer to the board and the latter should represent the interests of shareholders. Seplat is demanding the sum of $5 billion in damages. 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. 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. Notably, sometimes top-level managers are on the board themselves. 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 27 Apr 2023 21:46:07 I generally consider insider ownership to be a good thing. Cookies to allow a better understanding of the use and performance of our website, to produce statistics, and to improve your browsing experience.
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