Notably, sometimes top-level managers are on the board themselves. Read our dividend analysis for SEPL. Seplat is demanding the sum of $5 billion in damages. 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. The report said that most of the transactions occurred after Seplat was publicly listed in London and Lagos exchanges in 2014. It might be worth looking deeper into this. } Seplat, a Nigerian oil and gas company listed on the Nigerian Exchange (NGX) and the London Stock Exchange, is facing internal crises and legal battles stemming from changes in managerial structure and the delayed acquisition of Mobil Producing Nigeria Unlimited assets. What other stocks do shareholders of Seplat Energy own? Public companies currently own 21% of Seplat Petroleum Development stock. Donald Trump has requested a mistrial in a civil case where the writer E Jean Carroll is accusing him of rape and defamation, saying the judge made several "unfair and prejudicial" rulings against him.In an 18-page letter filed early Monday in Manhattan federal court, Trump's lawyer Joe Tacopina accused US District Judge Lewis Kaplan of being biased against the former US president, including in the jury's presence. Our goal is to create a safe and engaging place for users to connect over interests and passions. Upgrade to MarketBeat All Access to add more stocks to your watchlist. How often does Seplat Energy pay dividends? This might be a strategic stake, so it's worth watching this space for changes in ownership. 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. You can see Seplat Petroleum Development's historic earnings and revenue below, but keep in mind there's always more to the story. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. Seplat is a small oil and gas According to him, it is not a good sign for corporate governance. Seplat Energys $318m cash generation, huge capital investment drive shareholders fortune Seplat Petroleum Development Company Plc, held its hybrid Structure P.M.B:12638 Marina 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. 337927). Strengthened Liquidity: Seplat had USD220 million of unrestricted cash at 30 September 2021. 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. How much do Seplat Petroleum Development Company employees make? The company management answer to the board and the latter should represent the interests of shareholders. childNetworkId = '21634543682', NNPCL requested a declaration that a dispute had arisen between itself and MPNU regarding the interpretation of pre-emption rights under their Joint Operating Agreement (JOA) and asked the court to order NNPC and MPNU to engage in arbitration as required by the JOA. We can see that Seplat Energy does have institutional investors; and they hold a good portion of the company's stock. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. Many look for medium term catalysts that will drive the share price higher. In the chart below, we zoom in on the different ownership groups of Seplat Energy. By August 8, 2022, President Buhari had given his approval for Seplat to acquire MPNUs assets, citing the numerous benefits to Nigerias economy. 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. American Consumer News, LLC dba MarketBeat 2010-2023. 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. But just like anyone else, they could be wrong. This may not be consistent with full year annual report figures. There are plenty of analysts covering the stock, so it might be worth seeing what they are forecasting, too. SEPL has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. Shareholders would probably be interested to learn that insiders own shares in Seplat Petroleum Development Company Plc. What Seplat is buying from Mobil. Seplat Petroleum Development Company Salaries Read our dividend analysis for SEPL. Of Seplat Petroleum Development Company Plc View our latest analysis for Seplat Energy. 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. Who We Are It might be worth looking deeper into this. The general public, with a 28% stake in the company, will not easily be ignored. Shares of SEPL stock and other U.K. stocks can be purchased through online brokerage accounts that support trading on the London Stock Exchange (LSX). WebThe combined oil production of Seplat and Eland (as separate entities) in 2019 stood at 32,898 bopd and as per independent reserve assessments at 1 January 2020 the acquisition has increased Seplats 2P reserves and 2C resources base by 9.6% to 615 MMboe. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? The Group also holds a 20.46% stake in Seplat, one of Nigerias main operators that is listed on the stock exchanges of London and Lagos. By March 8, 2023, had his work permit, visa, and residence permit revoked by the Nigerian Ministry of Interior. We project Seplat to be broadly FCF-neutral in 2021-2025. We aim to bring you long-term focused analysis driven by fundamental data. However, on some occasions too much power is concentrated within this group. Who are the major shareholders and have insiders been buying or selling? Case in point: We've spotted 2 warning signs for Seplat Energy you should be aware of. Seplat Energy Plc (ex Seplat Petroleum Development Company Plc) specializes in exploring and producing oil and natural gas. Learn how it impacts everything we do. Strategic growth: Eland acquisition 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. Seplat Energy also announced that the Lagos Federal High Court has vacated the ex parte interim orders against Seplat, its Chief Executive Officer, and its Board Chairman. In-depth profiles and analysis for 20,000 public companies. 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. 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. Seplat Energy's stock was trading at GBX 105 at the start of the year. However, the Commission encourages the Board to continue effective dialogue with all stakeholders in dealing with the issues. With 14% and 9.0% of the shares outstanding respectively, Petrolin Group and Sustainable Capital Ltd are the second and third largest shareholders. Seplat Energy Plc's (LON:SEPL) largest shareholders are private NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. The company also reported a pre-tax profit of $86.1 million representing a 3.2% jump over the same period in 2022. click here to see if those insiders have been buying or selling. WebAs you can see in the diagram, the ownership structure in this company have institutional shareholders with 65.05% of the company ownership, retail shareholders at 13.17%, sovereign wealth funds at 10.47%, foundations (or founder) at 5.20% and others at 6.11%. The company also engages in the renewable energy generation activities. Sources within the company mention that there are some aggrieved parties who may be working against the company to further their own agenda threatening to impact Seplats long-term success if they are not addressed. Seplat Petroleum Development Company employees attributed a compensation and benefits rating of 3.7/5 stars to their company. Institutional investors commonly compare their own returns to the returns of a commonly followed index. The Securities and Exchange Commission, SECis a Government Agency Mandated to Regulate and Develop the Nigerian Capital Market, SEC Towers, Delayed London Stock Exchange In its 2023 first quarter results, it reported higher revenue of 36.9% to $331 million. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. Find your private company bowl on Fishbowl, join the hottest conversation with your colleagues anonymously.