Seplat Energy PLC

Major Shareholding Notification • Nov 21, 2016

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RNS Number : 7559P

SEPLAT Petroleum Development Co PLC

21 November 2016

21 November, 2016

SEPLAT Petroleum Development Company Plc (the "Company")

Notification of Major Interests in Shares

On 17 November 2016, the Company was notified, pursuant to DTR 5.1.2R, that the transactions set out below occurred:

1.    Following the sale of a portion of the shares registered in the name of Shebah Petroleum Development Company Limited actioned by Zenith Securities Limited in connection with the collateral agreement granted by Shebah Petroleum Development Company Limited to Zenith Bank plc which was previously notified by the Company on 27 May 2015, Dr. Ambrosie Bryant Chukwueloka Orjiako, who holds an indirect interest in the shares of Shebah Petroleum Development Company Limited and is the Chairman of the Company, now holds a combined direct and indirect interest in 77,962,680 ordinary shares in the Company representing approximately 13.84% of the voting rights of the Company's issued share capital.

2.    Further details of the transaction are set out in the attached TR-1 (Notification of Major Interest in Shares). 

3.    This notification is made in accordance with DTR 5.8.12R(2).

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

Roger Brown, CFO                                                        +44 (0) 203 725 6500

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii			SEPLAT Petroleum Development Company Plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights				X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: iii		Dr. Ambrosie Bryant Chukwueloka Orjiako
4. Full name of shareholder(s)  (if different from 3.):iv		Shebah Petroleum Development Company Limited
5. Date of the transaction and date on which the threshold is crossed or reached: v		Notifier was informed of the transaction on which the threshold was crossed on 7 November 2016 (the transaction was effected on 25 October 2016)
6. Date on which issuer notified:		17 November 2016
7. Threshold(s) that is/are crossed or reached: vi, vii		15%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction						Resulting situation after the triggering transaction
Number of Shares			Number of Voting Rights			Number of shares		Number of voting rights			% of  voting rights x
Direct		Direct xi		Indirect xii	Direct		Indirect
NGSEPLAT0008	85,614,413			85,614,413			877,501		877,501		77,085,179	0.16%		13.68%
B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument			Expiration date xiii		Exercise/ Conversion Period xiv					Number of voting rights that may be acquired if the instrument is exercised/ converted.			% of voting rights
N/A
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument		Exercise price		Expiration date xvii		Exercise/ Conversion period xviii			Number of voting rights instrument refers to			% of voting rights xix, xx
N/A												Nominal		Delta
Total (A+B+C)
Number of voting rights								Percentage of voting rights
77,962,680								13.84
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
Total disclosable direct and indirect holding for A.B.C. Orjiako: 77,962,680 (13.84%) Chain of control: Of the 77,962,680 Ordinary Shares disclosable by A.B.C. Orjiako, Shebah Petroleum Development Company Limited (Shebah), which is an entity controlled by A.B.C. Orjiako and members of his family, has beneficial ownership rights in 64,485,179 Ordinary Shares, of which 18,500,000 Ordinary Shares are held by Vitol Energy (Bermuda) Limited for the benefit of Shebah and 18,500,000 Ordinary Shares are held by Constant Petroleum Limited for the benefit of Shebah. 12,600,000 Ordinary Shares are held directly by A.B.C. Orjiako's siblings and 877,501 Ordinary Shares are held directly by A.B.C. Orjiako.
Proxy Voting:
10. Name of the proxy holder:											N/A
11. Number of voting rights proxy holder will cease to hold:											N/A
12. Date on which proxy holder will cease to hold voting rights:											N/A
13. Additional information:								This disclosure has been calculated based on issued share capital amount 563,444,561.
14. Contact name:								Winston & Strawn London LLP (Ref: ZJA)
15. Contact telephone number:								+44 20 7011 8700

This information is provided by RNS

The company news service from the London Stock Exchange

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