REG - Seplat Energy PLC - Notification of Dealing in Shares by a PDMR

Seplat EnergyAnnouncement

21/05/2024 08:00

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RNS Number : 2605P  Seplat Energy PLC  21 May 2024

 

 

 

 

 

Seplat Energy PLC ("Seplat" or "Company")

 

Notification of Dealing in Shares by a PDMR

 

Lagos and London - May 21, 2024: Seplat Energy PLC ("Seplat" or the
"Company"), today announces the exercise, on 17(th) May 2024, of vested shares
awarded to Roger Brown between 2014 and 2022, under the terms of the Seplat
Energy PLC 2014 Long Term Incentive Plan ("LTIP").

 

Roger Brown now holds 4,006,168 ordinary shares in Seplat Energy PLC, which
sufficiently satisfies the minimum shareholding requirement mandated by the
shareholder approved remuneration policy. The Board of Seplat Energy notes
that such quantum of shareholding ensures that Roger Brown's interests in the
Company are closely aligned with those of other shareholders in Seplat Energy.

 

The transaction has been approved by the Board of Seplat Energy PLC and is in
accordance with normal market practice on the exercise of share options by an
Executive Director.

 

The LTIP share awards were made in accordance with the Company's Remuneration
Policy for Executive Directors and were made under the terms of the Company's
2014 Long Term Incentive Plan.

 

 Director     Vested shares exercised  Market price at exercise (NGX/LSE)  Shares retained after statutory deductions
 Roger Brown  4,943,445                NGN 2,962.30 / GBP 1.555            4,006,167

 

Further details of the transaction are set out in the attached Notification
and Public Disclosure of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them.

This notification is made in accordance with Rule 17.15(c) Disclosure of
Dealings in Issuers' Shares, Rulebook of The Exchange, 2015 (Issuers' Rule)
and Article 19(3) of the UK Market Abuse Regulations.

 

 

Mrs. Edith Onwuchekwa

 

Director, Legal/Company Secretary

FOR: SEPLAT ENERGY PLC

 

 

Details of duly authorised officer of issuer responsible for making
notification:

Edith Onwuchekwa, Director, Legal/Company Secretary  +234 (0) 1 277 0400

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Roger Brown
 2   Reason for the notification
 a)  Position / status                                            Chief Executive Officer
 b)  Initial notification / Amendment                             Initial notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Seplat Energy PLC
 b)  LEI                                                          029200711C4S4CB2E982
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of Seplat Energy PLC

     Identification code

                                                                  NGSEPLAT0008
 b)  Nature of the transaction                                    (i)     Exercise of 4,943,445 vested shares awarded to Roger Brown between
                                                                  2014 and 2022 under the terms of the Seplat Energy PLC 2014 LTIP.

                                                                  (ii)    937,278 shares withheld, in respect of settling Nigerian personal
                                                                  income tax obligations on (i) above.
 c)  Volume(s)

 Price(s)                           Volume(s)
                                                                   (i)         nil                    4,943,445
                                                                   (ii)         NGN 2,962.30          937,278
 d)  Aggregated information

- Aggregated volume

     - Price                                                      Nigerian personal income tax liability arising on exercise to be cash settled
                                                                  with the relevant tax authority, equivalent to 937,278 ordinary shares at NGN
                                                                  2,962.30 per share.
 e)  Date of the transaction                                      17 May 2024
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 -  Aggregated volume
 -  Price

 

Nigerian personal income tax liability arising on exercise to be cash settled
with the relevant tax authority, equivalent to 937,278 ordinary shares at NGN
2,962.30 per share.

e)

Date of the transaction

17 May 2024

f)

Place of the transaction

Outside a trading venue

 

 

 

Enquiries:

 Seplat Energy PLC
 Eleanor Adaralegbe - CFO               +234 1 277 0400 Ext 1110

 Edith Onwuchekwa - Company Secretary

 Chioma Afe - External Affairs          +234 1 277 0444 Ext 1108

 James Thompson - Investor Relations

 Nwamaka Iloh - Company Secretariat
 FTI Consulting
 Ben Brewerton / Chris Laing            +44 (0) 203 727 1000
                                        seplat@fticonsulting.com (mailto:seplat@fticonsulting.com)

 

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