In the half year (H1) period, Seplat pronounced an interim
dividend at a rate of US2.5 cents (United States Two and Half Cents) per
Ordinary Share, subject to appropriate withholding tax (WHT), to be paid to
Seplat Energy’s shareholders whose names appear in the Register of Members as
at the close of business on August 12, 2021.
Both the Nigerian Exchange (NGX) Limited and London Stock
Exchange hosted Seplat Energy Plc on Thursday July 29 to commemorate Seplat’s
first dual Capital Markets Day . The event marked an important milestone for
Seplat marking its name change from Seplat Petroleum Development Company Plc to
Seplat Energy Plc.
While the company’s total rebranding is underway, the
leading Nigerian independent energy company listed on both the Nigerian
Exchange and the London Stock Exchange announced its unaudited results for the
half year (H1) ended June 30, 2021.
The operational highlights show: working-interest oil and
gas production within guidance at 50,786 barrels of oil equivalent per day (boepd);
liquids production of 30,028 barrels of oil per day (bopd) in H1 2021, gas
production up 21percent to 120 million standard cubic feet per day (MMscfd);
Oben-50 and 51 gas wells completed in the period and producing; safety record
extended to more than 20.5 million man hours without LTI on Seplat-operated
western assets; while first liftings from Amukpe-Escravos Pipeline expected
fourth-quarter (Q4) 2021.
Seplat successful issue of $650 million 7.75% senior notes
to redeem existing $350 million 9.25% senior notes and repay $250 million drawn
on $350 million Revolving Credit Facility (RCF); Refinanced $100 million
Westport RBL facility; raised a $50 million offtake linked to the RBL in July;
and total capital expenditure of $57.5 million.
To enable Seplat’s Registrar, Datamax Registrars Limited,
prepare for the payment of the interim dividend, the Register of Shareholders
will be closed on August 13, 2021. The Qualification Date is at the Close of
Business on August 12, 2021. Note that on the London Stock Exchange: The
Associated Record Date will be August 12, 2021 and the Ex-Dividend date will be
August 11, 2021.
Seplat said in the
corporate action announcement that the exchange rate for the Naira or Pounds
Sterling amounts payable to shareholders will be determined by reference to the
relevant exchange rates applicable to the US dollar on August 11and will be
communicated by the Company on August 12.
On or around September 13, 2021, the interim dividend will
be paid electronically to shareholders whose names appear on the Register of
Members as at August 12, 2021, and who have completed the e-dividend
registration and mandated the Registrar to pay their interim dividend directly
into their bank accounts.
Shareholders holding their shares on the Nigerian Exchange
Limited without a valid Nigerian Certificate for Capital Importation (CCI) will
be paid their dividend in Naira as the default currency. Shareholders holding
their shares on the Nigerian Exchange Limited with a valid CCI will be paid
their dividend in US dollars as the default currency.
“However, those
shareholders may instead elect to receive their entire dividend payment in
Naira (partial elections are not permissible).
“Evidence of the CCI must be provided to Datamax Registrars
Limited; and shareholders holding their shares through depository interests on
the London Stock Exchange will be paid their dividend in US dollars as the
default currency.
“However, those shareholders may instead elect to receive
their entire dividend payment in pounds sterling. Partial elections are not
permissible”, Seplat said in a July 29 notice signed by Emeka Onwuka Chief
Financial Officer.
“Shareholders who have a dividend currency option, must make
the election to the Company’s Registrars by August 27, 2021, otherwise the
dividend will be paid in the default currency. The election form will be sent
out to the relevant shareholders and can also be found on the Company website.
Those shareholders holding their shares on the Nigerian Exchange Limited who
hold a valid CCI should notify SEPLAT’s Nigerian Registrars, DataMax Registrars
Limited (DataMax), of that fact”, the company further said.
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