The Non-Executive Chairman of SEPLAT Petroleum Development Company, Ambrosie Orjiako, sold 3.5 million units of ordinary shares which he controlled within the oil firm on Thursday, August 1.
The transaction took place in London and a notice of the transaction was sent to the Nigeria Stock Exchange.
In the notice, the Cheif Financial Officer of SEPLAT, Roger Brown, said the shares sold at an average price of 114.5 pence per share.
According to the statement, the shares were “registered in the name of Vitol Energy Limited held for the benefit of Shebah Petroleum Development Company Limited, which is an entity controlled by Dr. A.B.C. Orjiako and members of his family”.
The statement said following the sale, Mr Orjiako now holds a direct interest in 16,151,325 ordinary shares and an indirect interest in 26,300,000 ordinary shares of the company totalling 42,451,325 shares which equates to a voting interest of 7.21 per cent.
SEPLAT Petroleum Development Company is a Nigerian independent oil and gas company which operates a portfolio of assets in the Niger Delta region. It is a leading supplier of processed gas to the domestic market.
The company is listed on both the London and Nigerian stock exchanges and has locations in both countries.
SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited.
Source: Premium Times