TIDMSEPL

RNS Number : 9765T

Seplat Petroleum Development Co PLC

30 March 2021

U Seplat Petroleum Development Company Plc ("SEPLAT" or the "Company")

Announcement on Notification of Dealing in Shares by a PDMR

Lagos and London - March 30, 2021: The Company received a notification on March 26, 2021 of a transfer of 19,760,794 ordinary shares held by Platform Petroleum Limited (an entity in which Mr. Austin Avuru has an equity interest) to various beneficiaries who are Shareholders of Platform Petroleum Limited and they are therefore no longer considered to be connected persons. Amongst these beneficiaries, Professional Support Limited (an entity wholly controlled by Mr. Avuru), received a total of 7,422,770 ordinary shares.

Following these transfers, Platform Petroleum now holds 318,738 shares (0.05%), and Professional Support holds 48,649,952 shares (8.26%) of the Company's Issued Share Capital of 588,444,561 . Consequently, Mr. Avuru now holds nil direct interest and an indirect interest of 48,968,690 ordinary shares (8.32%) of N0.50k in 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.

Mrs. Edith Onwuchekwa

Director, Legal/Company Secretary

FOR: SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC.

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

   Edith Onwuchekwa, Director, Legal/Company Secretary      +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                             Non-Executive Director 
      ------------------------------------------  --------------------------------------------------- 
 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 Platform Petroleum Limited to Professional 
                                                    Support Limited, an entity wholly controlled 
                                                    by Mr. Avuru. 
      ------------------------------------------  --------------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                  ----------------------  ------------------------- 
                                                   Price(s)                Volume(s) 
                                                  ----------------------  ------------------------- 
                                                   Nil                     7, 422,770 
                                                  ----------------------  ------------------------- 
 
 d)    Aggregated information 
 
  - Aggregated volume                              7,422,770 
 
  - Price                                          Nil 
 
 e)    Date of the transaction                     March 7, 2021 
      ------------------------------------------  --------------------------------------------------- 
 f)    Place of the transaction                    Lagos, Nigeria and London UK 
      ------------------------------------------  ---------------------------------------------------

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March 30, 2021 07:30 ET (11:30 GMT)

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