Seplat Petroleum Development Company Plc, said one of its shareholders, Sustainable Capital Africa Alpha Fund, has increased its stake with a direct shareholding of 52,544,527 units giving the company 8.93% voting right in Seplat.
This was disclosed in a notification that was sent to the Nigerian Exchange Limited on December 16, 2022.
Sustainable Capital Africa Alpha Fund had, two years ago, acquired a direct shareholding of 30,071,128 units based on the issued share capital of 588,444,561 units of shares. This initially gave the company a 5.11% ownership stake in Seplat.
The notification which was signed by the Company Secretary/Chief Governance Compliance Officer, Mrs Edith Onwuchekwa, said: “the company received notification that a shareholder on the London platform, in the name of Sustainable Capital Africa Alpha Fund, dealt in shares and now holds a direct interest of 30,071,128 units of shares (5.11%) based on the issued share capital of 588,444,561 units of shares.
“In line with the company’s commitment to updating the Exchange of its activities, we hereby notify the Exchange that the shareholder has now attained and crossed the threshold of 5% and above. Further details of the transaction are set out in the attached standard form for notification of major holdings (TR-1).”
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