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Seplat Energy PLC announced that its CEO, Roger Brown, and CFO, Eleanor Adaralegbe, exercised rights on vested shares from the 2014 Long Term Incentive Plan (LTIP) on May 22, 2026. Roger Brown exercised 2,193,586 shares, from which 548,396 were withheld for tax, resulting in him retaining 1,645,190 shares and now holding a total of 6,523,862 ordinary shares. Eleanor Adaralegbe exercised 478,082 shares, with 119,519 withheld for tax, retaining 358,563 shares and now holding 1,018,254 ordinary shares.
| Date | 29 May 2026 |
| Time | 14:40:44 |
| Category | Director/PDMR dealings |
| ID | 2969G |
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
Seplat Energy PLC ("Seplat" or "Company")
Share Awards granted under the Seplat Energy PLC 2014 Long Term Incentive Plan ("LTIP")
Lagos and London - 29th May 2026
EXERCISE OF RIGHT ON VESTED LTIPS (AND ATTENDANT "DEALING IN SHARES")
Seplat Energy PLC ("Seplat" or the "Company") announces the exercise of rights on LTIP shares vested to the executives from 2021, 2022 and 2023 LTIP under the terms of the Seplat Energy PLC 2014 Long Term Incentive Plan ("LTIP"), on 30th May 2026, and the attendant 'dealing in shares' to meet statutory obligations.
Further to the above, Roger Brown and Eleanor Adaralegbe will now hold 6,523,862 and 1,018,254 ordinary shares, respectively, in Seplat Energy PLC, which sufficiently satisfies the minimum shareholding requirement mandated by the shareholder approved remuneration policy. The Board of Seplat Energy notes that this quantum of shareholding ensures that the Executive Directors' interests in the Company remain closely aligned with those of other shareholders in Seplat Energy. The transaction has been approved by the Board of Seplat Energy PLC and is in accordance with normal market practice on the exercise of share options by an Executive Director.
The LTIP share award were made in accordance with the Company's Remuneration Policy for Executive Directors and under the terms of the Company's 2014 Long Term Incentive Plan.
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Director |
Vested shares exercised |
Shares dealing to meet statutory obligations |
Shares retained after statutory deductions |
|
Roger Brown |
2,193,586 |
548,396 |
1,645,190 |
|
Eleanor Adaralegbe |
478,082 |
119,519 |
358,563 |
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
FOR: SEPLAT ENERGY PLC
Details of duly authorised officer of issuer responsible for making notification:
Edith Onwuchekwa, Director, Legal/Company Secretary +234 (0) 1 277 0400
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Roger Brown |
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2 |
Reason for the notification |
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a) |
Position / status |
Chief Executive Officer |
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|
b) |
Initial notification / Amendment |
Initial notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
Seplat Energy PLC |
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|
b) |
LEI |
029200711C4S4CB2E982 |
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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 |
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|
a) |
Description of the financial instrument, type of instrument Identification code |
Ordinary shares of Seplat Energy PLC
NGSEPLAT0008 |
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|
b) |
Nature of the transaction |
i. Exercise of 2,193,586 shares being 2021 LTIP vested shares ii. 548,396 shares withheld, in respect of settling Nigerian personal income tax obligations on (i) above both under Seplat Energy PLC 2014 Long Term Incentive Plan. |
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|
c) |
Price(s) and volume(s) |
|
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|
d) |
Aggregated information
|
Nigerian personal income tax liability arising on exercise to be cash settled with the relevant tax authority, equivalent to 548,396 ordinary shares at the NGX closing share price on 22 May 2026.
|
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|
e) |
Date of the transaction |
22 May 2026 |
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|
f) |
Place of the transaction |
Outside a trading venue |
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|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||||||||||
|
a) |
Name |
Eleanor Adaralegbe |
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|
2 |
Reason for the notification |
||||||||||
|
a) |
Position / status |
Chief Financial Officer |
|||||||||
|
b) |
Initial notification / Amendment |
Initial notification |
|||||||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
||||||||||
|
a) |
Name |
Seplat Energy 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 financial instrument, type of instrument Identification code |
Ordinary shares of Seplat Energy PLC
NGSEPLAT0008 |
|||||||||
|
b) |
Nature of the transaction |
i. Exercise of 478,082 shares from 2021, 2022 and 2023 LTIP vested shares ii. 119,519 shares withheld, in respect of settling Nigerian personal income tax obligations on (i) above. |
|||||||||
|
c) |
Price(s) and volume(s) |
|
|||||||||
|
d) |
Aggregated information
|
Nigerian personal income tax liability arising on exercise to be cash settled with the relevant tax authority, equivalent to 119,519 ordinary shares at the NGX closing share price on 22 May 2026. |
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|
e) |
Date of the transaction |
22 May 2026 |
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|
f) |
Place of the transaction |
Outside a trading venue |
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Enquiries
|
Seplat Energy Plc |
+234 12 770 400 |
|
Eleanor Adaralegbe, Chief Financial Officer Edith Onwuchekwa, Director Legal /Company Secretary James Thompson, Investor Relations |
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|
Chioma Afe, Director, External Affairs and Social Performance Nwamaka Iloh - Company Secretariat |
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FTI Consulting |
|
|
Ben Brewerton / Chris Laing |
+44 (0) 203 727 1000 |
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About Seplat Energy
Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL). Through our strategy to build a sustainable business and deliver energy transition, we are transforming lives by delivering affordable, reliable and sustainable energy that drives social and economic prosperity.
Seplat Energy's portfolio consists of 11 PMLs, 17 PPLs and 5 OMLs in onshore and shallow water locations in the prolific Niger Delta region of Nigeria, which we operate with partners including the Nigerian Government and other producers. Furthermore, we have an operated interest in three export terminals including; the Qua Iboe export terminal, Yoho FSO, and Bonny River Terminal (BRT), and operate two large offshore NGL recovery plants at Oso and EAP.
We operate three gas processing plants onshore, at Oben and Sapele on our Western Assets and the 300 MMscfd ANOH Gas Processing Plant on our Eastern Assets, an integrated joint venture with NGIC. Combined, these gas facilities augment Seplat Energy's position as a leading supplier of natural gas to the domestic power generation market.
For further information please refer to our website, https://www.seplatenergy.com/.