SUMMARY OF THE OFFERING:
COMPANY
Seplat Petroleum Development Company Plc. (“Seplat”)
COUNTRY OF INCORPORATION
Nigeria
COUNTRY OF OPERATIONS
Nigeria
SECTOR
Oil & Gas Production and Exploration
OFFER TYPE
Initial Public Offering
SECURITIES OFFERED
Ordinary Shares on NSE / Ordinary Shares (in the form of Depositary Interests) on LSE
LISTING
London Stock Exchange, Nigerian Stock Exchange
TICKER
SEPLAT NL / SEPL LN
OFFER PRICE
LSE: GBp 210 per share
NSE: NGN 576 per share
BASE OFFER SIZE
143,284,130 shares
USD500.0m (GBP300.9m or NGN82.5bn equivalent)
PRIMARY / SECONDARY
100% Primary
— USE OF PROCEEDS
US$48 million to repay in full all outstanding amounts under its shareholder loan from MPI S.A. (“MPI”); and (ii) the remainder of the net proceeds to be available for acquiring and developing new
acquisitions, and/or pay down any additional debt raised in connection therewith, of both onshore and shallow offshore acreages, assets or joint venture (“JV”) farm-ins.
INDICATIVE TIMETABLE
Pricing and Allocations (T) Apr 9th
Conditional LSE Trading Apr 9th
LSE and NSE unconditional trading (T+3) Apr 14th
SELLING RESTRICTIONS
OFFERING TO INSTITUTIONAL INVESTORS UNDER REG S OUTSIDE THE UNITED STATES
OFFERING TO QIBS IN THE UNITED STATES PURSUANT TO RULE 144A
OFFER TO QUALIFIED INSTITUTIONAL INVESTORS AND HIGH NETWORTH INDIVIDUALS IN NIGERIA
SALES TO ACCREDITED INVESTORS IN ONTARIO AND BRITISH COLUMBIA
SALES TO QUALIFIED INVESTORS IN EEA
