TIDMSEPL

RNS Number : 3772L

Seplat Petroleum Development Co PLC

05 September 2019

USeplat Petroleum Development Company Plc ("Seplat" or the "Company")

Director/PDMR Shareholding

Lagos and London - 5 September 2019:

The Company received notification on 3 September 2019 of a transfer of 904,717 ordinary shares held directly by Austin Avuru, the CEO of the Company, to Professional Support Limited, an entity wholly controlled by Mr. Avuru.

The above transaction has not resulted in a change in beneficial ownership, which remains at 12.19% (Professional Support holds 31,068,211 shares (5.28%) and Platform Petroleum holds 40,659,695 shares (6.91%), based on the Issued Share Capital of 588,444,561). Mr. Avuru now holds nil direct interest and an indirect interest of 71,727,906 ordinary shares of N0.50k each of the Company.

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 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and Article 19 of the EU Market Abuse Regulations.

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

   Edith Onwuchekwa, Co Sec/Chief Governance Compliance Officer           +234 (0) 1 277 0400

Form for Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with Them:

 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                     Ojunekwu Austin Avuru 
      ---------------------------------------  -------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------- 
 a)    Position/status                          Chief Executive Officer 
      ---------------------------------------  -------------------------------------------------- 
 b)    Initial notification                     Initial notification 
        /Amendment 
      ---------------------------------------  -------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------------- 
 a)    Name                                     Seplat Petroleum Development Company 
                                                 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                       Ordinary shares of N0.50k each (NGSEPLAT0008) 
        financial instrument, 
        type of instrument 
 
       Identification code 
 
 b)    Nature of the transaction                Transfer of shares registered in 
                                                 the name of Mr. Ojunekwu Austin Avuru, 
                                                 the Chief Executive Officer of the 
                                                 Company to Professional Support Limited, 
                                                 an entity controlled by Mr. Avuru. 
      ---------------------------------------  -------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                               -----------------------  ----------------------- 
                                                Price(s)                 Volume(s) 
                                               -----------------------  ----------------------- 
                                                Nil                      904, 717 
                                               -----------------------  ----------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                           904,717 
 
  - Price                                       Nil 
 
 e)    Date of the transaction                  15 July 2019 
      ---------------------------------------  -------------------------------------------------- 
 f)    Place of the transaction                 London, United Kingdom 
      ---------------------------------------  --------------------------------------------------

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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