With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? In order to improve our community experience, we are temporarily suspending article commenting. Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. You can click here to see if those insiders have been buying or selling. Those businesses were connected to both Orjiako and Avurus family members. With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. Tesla Continues to Defy Expectations, Is it Buyable Again? It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. WebOver the last few years, Seplat Energy has successfully grown its business and created significant shareholder value despite the challenges confronting us in our operating environment. 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. They are always enabled. This shows at least some alignment. We can report that insiders do own shares in Seplat Energy Plc. The NRL concedes officials missed a crucial knock-on call late in Canberra's golden-point win over the Dolphins.With scores locked at 30-30, Canberra's Hudson Young knocked the ball forward into the arm of Ray Stone, before the Raiders regained possession. Ian Healy says England are at risk of overthinking the Ashes series if they push for shortened boundaries against Australia in a bid to suit the hosts' new-found attacking approach to Test cricket.A UK newspaper reported England officials had hoped to utilise smaller grounds this winter, with boundary ropes brought in well off the fence. Seplat is a small oil and gas Payout ratios above 75% are not desirable because they may not be sustainable. Major This may not be consistent with full year annual report figures. 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. However, on some occasions too much power is concentrated within this group. } Plot 272, Samuel Adesujo Ademulegun Street, Central Business District , Abuja, FCT, Lagos In other words, the group stands to gain the most (or lose the most) from their investment into the company. Meanwhile, On July 11, 2022, Seplat announced that the Nigerian National Petroleum Company Limited (NNPCL) had initiated legal action in the State High Court of the Federal Capital Territory in Abuja. Seplat has also faced corporate governance controversies, including payments to companies associated with its founders, and a lawsuit accusing former Chairman ABC Orjiako of acting unilaterally and demanding $5 billion in damages. By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. In line with its core mandate of investor protection, the Commission has sought and obtained explanations from Seplat through its Board of Directors and from the NGX,the primary exchange on which it is listed. Export data to Excel for your own analysis. The same can be achieved by studying analyst sentiments. Rivers State. (844) 978-6257. Seplat Petroleum Development is not owned by hedge funds. The Mareva injunction was issued because Zenith Bank Plc had taken Dr Orjiakor, Shebah Exploration and Production Company Limited, Shebah Petroleum Development Company Limited and six others before the Federal High Court, over an alleged debt of about $78,426,578.64. These include the orders that restrained the companys CEO Roger Brown from participating in the running of the Company. Seplat Energy (LON:SEPL) pays an annual dividend of GBX 8 per share and currently has a dividend yield of 8.15%. Our data reflects individual insiders, capturing board members at the very least. 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. Please log in to your account or sign up in order to add this asset to your watchlist. 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. Additionally, the company's CEO Roger Brown directly holds 0.6% of the total shares outstanding. This represents a yield of 2.36%. Sources within Seplat told Nairametrics that the series of controversies at Seplat began in February 2022, when the company struck a deal worth as much as $1.6 billion to acquire the entire share capital of Mobil Producing Nigeria Unlimited (MPNU) from US supermajor ExxonMobil. The company also engages in the renewable energy generation activities. The official announcement can be viewed at this link. To get a sense of who is truly in control of Seplat Energy Plc (LON:SEPL), it is important to understand the ownership structure of the business. Liquidity and Debt Structure. At first observation, the ownership skirmishes at Seplat closely resemble the case of the two Hebrew women who approached the judgement throne of King Solomon, A look at the shareholders of Seplat Petroleum Development Company Plc (LON:SEPL) can tell us which group is most powerful. } See what's happening in the market right now with MarketBeat's real-time news feed. What is the dividend yield for Seplat Energy? 337927). Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. Notably, sometimes top-level managers are on the board themselves. With 47% stake, private companies possess the maximum shares in the company. Seplat Energy Plc says it is ready to move on from its challenges. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Seplat Energy Plc engages in the oil and gas exploration and production, and gas processing activities in Nigeria. 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. NRL chief executive Andrew Abdo invoked his power for the match review committee to consider their charges before Josh Reynolds was cited for Sunday's outburst at officials.Reynolds has been hit with a grade-one contrary conduct charge after his halftime abuse of referee Grant Atkins in Canterbury's win over St George Illawarra. With 14% and 9.0% of the shares outstanding respectively, Petrolin Group and Sustainable Capital Ltd are the second and third largest shareholders. P.M.B:12638 Marina Seplat Energy's stock was trading at GBX 105 at the start of the year. Kano With a 30% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Seplat Energy. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Strategic growth: Eland acquisition Glassdoor provides our best prediction for total pay in today's job market, along with other types of pay like cash bonuses, stock bonuses, profit sharing, sales commissions, and tips. As you can see, institutional investors have a fair amount of stake in Seplat Petroleum Development. Case in point: We've spotted 6 warning signs for Seplat Petroleum Development you should be aware of. The plan involves the retirement of Mr Basil Omiyi as Board Chairman, as well as the retirement of Senior Independent Non-Executive Director (SINED), Dr Charles Okeahalam before the companys Annual General Meeting in May 2024. Seplat is demanding the sum of $5 billion in damages. Net sales break down by In January 2023, some former employees filed a petition against Seplats CEO, Roger Brown on the grounds of alleged intimidation, sacking of Nigerian staff, abuse of corporate governance, the relegation of host communities, relocation of Seplat technology office to Aberdeen, UK, bullying of Nigerian staff by foreign nationals, as well as spending of over $5 million dollars to shuttle between Lagos and his London home after allegedly fraudulently collecting a relocation allowance from the company. You can see Seplat Energy's historic earnings and revenue below, but keep in mind there's always more to the story. After ABC Orjiako stepped down as Board Chairman at Seplat, the company had a consultancy arrangement with him, which obliged him to provide defined assistance to certain external stakeholders. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: Our daily ratings and market update email newsletter. At that time, the Chief Executive Officer, Gbenga Komolafe stated that based on the Petroleum Industry Act (PIA) of 2021, the NUPRC is the sole regulator in dealing with such matters in the Nigerian upstream sector. Read our dividend analysis for SEPL. Home; Exclusives. Cash generated from operations was also robust at $139.9 million even though it is 21.7% lower when compared to the period. So they generally do consider buying larger companies that are included in the relevant benchmark index. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. No: 1000005401 Furnish details of company ownership and shareholding structure. Do Analysts' Price Targets Make Domino's Pizza Stock Look Tasty? We can report that insiders do own shares in Seplat Energy Plc. In their own names, insiders own UK17m worth of stock in the UK584m company. This shows at least some alignment. You can click here to see if those insiders have been buying or selling. .uniq_1764707858073873 { Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. But to understand Seplat Petroleum Development better, we need to consider many other factors. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, By February 13, 2023, Seplat suspended the consultancy agreement with its former Chairman, ABC Orjiako through Amaze Limited. In September 2022, Bloomberg reported that Seplat Energy spent over $450 million on goods and services provided by companies linked to its two founders between 2010 and 2021. I find it very interesting to look at who exactly owns a company. The boardroom drama has led to an implosion that has seen mass retirement and resignations from key board members involved in the debacle. But he expressed confidence that the company would do better going forward for many reasons, one of which is Seplat being listed on the London Stock Exchange and its activities will be scrutinized publicly, unlike on the Nigerian Exchange where companies may get away with unethical practices. Seplat has over N309 billion of debt inclusive of cash of N112 billion as of its 2021 third quarter results. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related decisions, A total of 4 investors have a majority stake in the company with 52% ownership, Institutional ownership in Seplat Energy is 11%. adunit = 'nairametrics.com_336x336_responsive_DFP', Is United Airlines Playing a Game of Limbo with Its Guidance? It might be worth looking deeper into this. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. }. 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Our research also brought to light the fact that roughly 52% of the company is controlled by the top 4 shareholders suggesting that these owners wield significant influence on the business. It generates hydrocarbon through seven oil and gas blocks in the Niger Delta region. We aim to bring you long-term focused analysis driven by fundamental data. Many look for medium term catalysts that will drive the share price higher. width: 100vw; The Ministry had said that Mr Brown was in possession of a Combined Expatriate Residence Permit and Aliens Card (CERPAC) that was not based on a validly issued Expatriate Quota approved by the Ministry of Interior resulting in the violation of relevant Immigration Laws and Regulations. They too, get it wrong sometimes. Please read our Financial Services Guide before deciding whether to obtain financial services from us. Alex de Minaur has been beaten by qualifier Aslan Karatsev in the Madrid Open.19 went down 6-3 4-6 6-4 to the Russian, who is ranked 101 places below him, but is a former top-20 player. WebSEPLAT EAST ONSHORE LIMITED TENDER OPPORTUNITY: PROVISION OF PRODUCTION CHEMICALS (OML 53 JISIKE & OHAJI ONSHORE FIELDS) NipeX Tender Ref. It's always worth thinking about the different groups who own shares in a company. All rights reserved. This employer has not claimed their Employer Profile and is missing out on connecting with our community. Seplat Energy trades on the London Stock Exchange (LON) under the ticker symbol "SEPL.". Get in touch with us directly. Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months. Read our dividend analysis for SEPL. Despite these challenges, the company has surprisingly avoided the boardroom mele impacting its revenues. This announcement was made after a Federal High Court in Lagos issued a Mareva Injunction restraining ABC Orjiako, and other firms linked to him, from accessing the accounts and assets of Seplat Energy Plc. Seplat went ahead to pay $509,000 to a firm that holds Orjiakos shares for consulting services during the first six months of 2022, actively violating its own March 2021 resolution to eliminate all related-party transactions. height: calc((850px) * 9 / 16); Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. You have already added five stocks to your watchlist. Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situation or needs. For us, this is a definitive measure of our success and reflects our strong When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. The Commissions attention has been drawn to the recent reports in the media regarding Seplat Energy Plc (Seplat), a public companylisted onthe Nigerian Exchange Limited (NGX)and the London Stock Exchange (LSE). Alternatively, email [email protected]. Receive SEPL Stock News and Ratings via Email. To see all exchange delays and terms of use please see Barchart's disclaimer. A look at the shareholders of Seplat Petroleum Development Company Plc ( LON:SEPL) can tell us which group is most powerful. 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. Let's delve deeper into each type of owner, to discover more about Seplat Petroleum Development. The Securities and Exchange Commission, Nigeria Public Statement On Recent Reports On Seplat Energy PLC 29/03/2023 The Commissions attention has been drawn to the recent reports in the media regarding Seplat Energy Plc (Seplat), a public company listed on the Nigerian Exchange Limited (NGX) and the London Stock Upgrade to MarketBeat All Access to add more stocks to your watchlist. By continuing your browsing on this website, you agree to the use of cookies in order to optimize the functionality of the maureletprom.fr website through the production of anonymous and statistical data. The S&P; 500 and the Dow edged higher as JPMorgan shares rose after the lender said it will buy most of First Republic Bank's assets, while investors refrained from making big bets ahead of the Federal Reserve's policy decision this week.JPMorgan Chase & Co's shares rose 2. Lagos State, Kano Metro Pacific Investments Corporation is currently the largest shareholder, with 21% of shares outstanding. Private companies may also have a strategic interest in the company. This might be a strategic stake, so it's worth watching this space for changes in ownership. Cookies necessary to ensure the optimal functioning of our website. In their own names, insiders own UK8.1m worth of stock in the UK297m company. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. On looking further, we found that 56% of the shares are owned by the top 5 shareholders. When such a trade goes wrong, multiple parties may compete to sell stock fast. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. This may not be consistent with full year annual report figures. Who are the major shareholders and have insiders been buying or selling? In its 2023 first quarter results, it reported higher revenue of 36.9% to $331 million. It's hard to say for sure but this suggests they have entwined business interests. Seplat Energy announced a dividend on Thursday, April 27th. Join A Paid User Research SessionYoull receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Luckily, you can check this free report showing analyst forecasts for its future. SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Significant control over Seplat Energy by private companies implies that the general public has more power to influence management and governance-related WebWhat is the ownership structure of SEPLAT? Meanwhile, the company and its Board members continued to support Mr Brown through his ordeal, and he kept exercising his duties as the company CEO from the UK office, despite the withdrawal of his work permit. Real-time analyst ratings, insider transactions, earnings data, and more. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. View detailed SEPLAT.NG description & Meanwhile, the case has been adjourned to May 16, 2023, to continue the hearing. 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. Sign-up to receive the latest news and ratings for Seplat Energy and its competitors with MarketBeat's FREE daily newsletter. PT Pertamina (Persero) is currently the company's largest shareholder with 21% of shares outstanding. have bought more shares than they have sold in the past 3 months. The company can be reached via phone at +234-1-2770400. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. On November 17, 2021, Seplat announced that ABC Orjiako would step down from his position as Board Chairman in May 2022. This risk is higher in a company without a history of growth. @media (min-width: 850px) { 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. Shareholders of Seplat Petroleum Development Company Plc have expressed optimism that the new chief executive officer(CEO) of the company, Mr. Roger So they usually pay more attention to companies that are included in major indices. Seplat Energy Offshore Limited, a wholly owned Nigerian subsidiary of Seplat Energy Plc, has entered into a Sale and Purchase Agreement to acquire the entire share capital of MPNU for a purchase price of $1,283 million plus up to $300 million contingent consideration, subject to lockbox, working capital and other adjustments at American Consumer News, LLC dba MarketBeat 2010-2023. According to him, it is not a good sign for corporate governance. It might be worth looking deeper into this. 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. Comfortable Liquidity: Seplat had USD324 million of unrestricted cash at 31 December 2021. We aim to bring you long-term focused analysis driven by fundamental data. 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. Get daily stock ideas from top-performing Wall Street analysts. 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. We project Seplat to be broadly FCF-neutral in 2021-2025. Owner Type Number of Shares Ownership Percentage; Individual Insiders: 17,039,930: 2.9%: Hedge Funds: 52,544,527: 9.0%: SEPLAT was formed in June 2009 through the partnership of Shebah Petroleum Development Company Limited and Platform Petroleum Joint Ventures Limited to specifically pursue upstream oil and gas opportunities in Nigeria, and in particular divestment opportunities arising out of the incumbent Major IOC's portfolios. In comparison, the second and third largest shareholders hold about 14% and 7.6% of the stock. A minority shareholder told Nairametrics that it is a matter of concern that the company spent over $450 million on goods and services provided by companies linked to its founders between 2010 and 2021. Fraser McReight concedes he may still be the apprentice but says "master" Michael Hooper might be taking some notes of his own when the flankers clash in Townsville.McReight's Queensland Reds will host the NSW Waratahs on Saturday in a Super Rugby Pacific match of consequence, with the rivals sitting clear in sixth and seventh positions respectively and keen to move away from the chasing pack. This can indicate that the company has a certain degree of credibility in the investment community. Overall Benefits Rating.css-11cfy92{color:#0caa41 !important;}.css-11cfy92{color:#0caa41 !important;}0. The Group has a portfolio of high - potential assets focused on Africa and Latin America, consisting of both production assets and opportunities in the exploration or appraisal phase. Overview 50 Reviews 1 Jobs 25 Salaries 9 Interviews 22 Benefits 4 Photos 17 Diversity Follow + Add a Salary What are your colleagues talking about? Learn how it impacts everything we do. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Net sales break down by family of products as follows: - natural gas (21.2%). At the end of 2020, the group operated 7 onshore blocks located in Nigeria. A 40% operating ownership of four oil mining leases (OMLs 67, 68, 70, 104) and associated infrastructure (NNPC is the 60% partner) The Qua Iboe Terminal, one of Nigerias largest export facilities It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. The investors who had purchased shares after the initial deal was struck and were worried about the flip-flopping of the Nigerian government. How much do Seplat Petroleum Development Company employees make? This shows at least some alignment. Justice Yellin Bogoro of the Federal High Court had issued an interim order restraining Orjiako, and the two firms, as well as their proxies in Nigeria and any jurisdiction worldwide, from receiving and or transferring assets and accounts of Seplat Energy Plc. It also benefited from a USD350 5b Isaiah Odolu Street, GRA phase 2 Shareholders were divided between looking for an exit strategy and staying on course until the company receives government approval for the MPNU acquisition. Public companies currently own 21% of Seplat Petroleum Development stock. According to sources familiar with the matter, Seplat has also been wading into controversy over corporate governance issues. When such a trade goes wrong, multiple parties may compete to sell stock fast. this free report showing whether analysts are predicting a brighter future, New lower I bond rate comes with 'a pleasant surprise', Lordstown warns it may fail as investor Foxconn gets jumpy, Fed says new refinements of trading process are coming, Investors continue to think that the Fed will bail us out of every situation, strategist says, UPDATE 1-Fed says new refinements of trading process are coming. The definition of company insiders can be subjective and does vary between jurisdictions. How many employees does Seplat Energy have? We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.