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. CLAIMS OVER OWNERSHIP OF SEPLAT THISDAYLIVE When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. The company can be reached via phone at +234-1-2770400. That's interesting, because hedge funds can be quite active and activist. Check out our latest analysis for Seplat Petroleum Development. SEC TOWERS, Plot 272, Samuel Adesujo Ademulegun Street, Central Business District P.M.B:315, Garki, Abuja +234 (0) 94621100; +234 (0) 94621168 Email: sec@sec.gov.ng. Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. ','+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. You have already added five stocks to your watchlist. Notably, sometimes top-level managers are on the board themselves. The dividend payout ratio is 8,888.89%. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Identify stocks that meet your criteria using seven unique stock screeners. Gambling reform advocates have called on the federal government to create a special unit to address the harm being inflicted across the country.At a symposium in Adelaide on Monday, both the Public Health Association of Australia and the Alliance for Gambling Reform said the unit should sit within the Department of Health and Aged Care. .uniq_1764707858073873 { Institutional investors commonly compare their own returns to the returns of a commonly followed index. 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. Seplat Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. 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. Read our dividend analysis for SEPL. In their own names, insiders own UK17m worth of stock in the UK584m company. 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. The Group also holds a 20.46% stake in Seplat, one of Nigerias main operators that is listed on the stock exchanges of London and Lagos. However, on some occasions too much power is concentrated within this group. Seplat is a small oil and gas Exposure to Nigerian Banks Reduced: As a general policy, the company usually retains around 70% of its total cash in US dollars and around 70% of the US dollar cash is held offshore. The same can be achieved by studying analyst sentiments. WebCurrently, Roger Thompson Brown is Chief Executive Officer & Executive Director at Seplat Energy Plc. So they generally do consider buying larger companies that are included in the relevant benchmark index. Read what they think about their salaries on our Compensation FAQ page for Seplat Petroleum Development Company. 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. The deal would have seen a boost in Seplats production to 146,000 barrels of oil equivalent per day (boepd) and see its proven and probable liquids reserves jump from 241 million barrels to 650 million barrels. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. A 30-year-old man is under police guard in hospital accused of stabbing a senior-constable who had been investigating reports of a disturbance.The incident unfolded on the street outside an address at Rothwell, north of Brisbane, just before 9. It also benefited from a USD350 In other words, these shareholders have a meaningful say in the decisions of the company. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. The official announcement can be viewed at this link. As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. 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. The AFL admits its umpires erred in not awarding Nathan Murphy a free kick after he was clattered by Adelaide's Darcy Fogarty while failing to enforce the blood rule.Murphy was positioned under a high ball in the last quarter of the Magpies' thrilling win on Saturday when Fogarty crashed into him, front-on. A man is due to face a court over his alleged involvement in the execution-style murder of a Sydney underworld figure.Mahmoud Ahmad was killed in a spray of bullets fired from several cars as he stood outside a friend's house in April 2022. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. To understand the root cause of events at the publicly listed company, we reviewed a series of events that have led up to this point. View the best growth stocks for 2023 here. 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. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future. Aston Villa CEO, Christian Purslow believes the Premier League should be investigating to determine the ownership structure of Newcastle United. It seems that Private Companies own 33%, of the Seplat Petroleum Development stock. 3, Idejo Street, Opposite ICON House, It was reported that by mid-morning on February 25 after Seplats announcement of the sale and purchase agreement with MPNU, Seplats share price rose from 93 pence to 105.5 pence ($1.24 to $1.41) on the London Stock Exchange. The company also engages in the renewable energy generation activities. All rights reserved. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. Luckily, you can check this free report showing analyst forecasts for its future. The company earns 62.41 million in net income (profit) each year or GBX 0.09 on an earnings per share basis. What is the dividend yield for Seplat Energy? Sign up here. You should not rely on any advice and/or information contained in this website and before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice. } 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. Strategic growth: Eland acquisition Read our dividend analysis for SEPL. The definition of company insiders can be subjective and does vary between jurisdictions. It's always worth thinking about the different groups who own shares in a company. Get in touch with us directly. During the period highlighted, Seplat paid $410 million to companies associated with Orjiako and $299 million to companies associated with Avuru, according to the companys annual reports. 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. Get daily stock ideas from top-performing Wall Street analysts. Those businesses were connected to both Orjiako and Avurus family members. According to the Bloomberg report cited, Seplat made payments to 18 companies associated with its founders, Austin Avuru and ABC Orjiako for services rendered. Despite these challenges, Seplat reported higher revenue and pre-tax profits in the first quarter of 2023, and has announced a Boardroom succession plan to strengthen corporate governance and retire some board members. SEPLAT