Seplat Energy Plc, a leading indigenous oil and gas company in Nigeria, has confirmed that its chairman, Udo Udoma, acquired 22,571 ordinary shares in the company through his wholly-owned company, Tierce Investments Ltd.
This represents Udoma’s first stake in Seplat and his entry into the company’s shareholder base.
The acquisition, which was stated in a Director’s Dealings notice to the Nigerian Exchange Limited (NGX) on September 27, values Udoma’s investment at approximately N92.57 million based on the company’s share price of N4,103 on the NGX as of September 27.
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The 22,571 shares represent a 0.004 percent voting interest in Seplat Energy.
Udoma’s decision to invest in Seplat through Tierce Investments highlights his belief in the company’s strategy and long-term potential. As Chairman of the Board, his purchase of shares aligns his interests with those of Seplat’s shareholders.
The implications of Udoma’s share purchase are positive for the company, as it signals his confidence in Seplat’s future.
His entrance into the shareholder list may also be viewed as a positive signal to the market, given his prominence in Nigerian business and politics.
It is understood that Udoma’s investment in Seplat Energy demonstrates his commitment to the company’s success and his belief in its long-term potential.
Udoma is an Akwa Ibom-born son who represented Akwa Ibom South Senatorial District in the Nigerian Senate from 1999 to 2003.
