Pursely Resources Limited, a company owned by the wife of A.B.C. Orjiako, chairman of Seplat, has taken a 0.15 percent stake in Seplat in what appears to be a buy-back deal.
The deal announced in a notification to the The Nigerian Stock Exchange (NSE) is coming barely two months after a non-executive director of Seplat Petroleum Development Company Plc., Macaulay Agbada Ofurhie, sold off 900,000 unit of his Seplat shares, the same amount of shares Henrietta Orjiako, through Pursley Resources Limited, acquired.
The 900,000 units of shares which amount to N585 million (based on the prevailing price of the company stock), give Pursley a voting interest of 0.15% (based on Issued Share Capital of 588,444,561).
Ofurhie, had sold the shares on June 11, 2018, at N711 per share, amounting to N639 million.
Announced in a regulatory filing submitted to the Nigerian Stock Exchange Wednesday, and signed by Mirian Kene Kachikwu, Seplat’s company secretary, Seplat noted that “Pursley now holds a direct interest in 900,000 ordinary shares in the Company which equates to a voting interest of 0.15% (based on Issued Share Capital of 588,444,561).”
Frontpage September 24, 2018