Response to media on proposed acquisition of MPNU

RNS Number : 1766M
Seplat Energy PLC
19 May 2022
 

 

 

Seplat Energy Plc ("Seplat Energy" or "the Company")

Response to media article on proposed acquisition of Mobil Producing Nigeria Unlimited ("MPNU").

Lagos and London, 19 May 2022: In response to an article published today in This Day newspaper, stating that the Federal Government of Nigeria has declined consent to the acquisition of Mobil Producing Nigeria Unlimited ("MPNU"), Seplat Energy confirms that it has received a letter from the Chief Executive, Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") on the process. The Company has also been notified by the shareholders of MPNU confirming that MPNU received a letter from NUPRC declining their consent.

Under the terms of the Sale and Purchase Agreement ("SPA"), announced on 25 February 2022, which remains valid and subsisting, the Company will further its engagement with all relevant stakeholders.

Seplat Energy is confident that the process to obtain all approvals on the acquisition of MPNU's entire share capital is being followed and will be achieved.

This announcement is made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange Limited, 2015 (Issuer's Rule).  

Inside Information

Some of the information contained within this announcement is considered by Seplat Energy to constitute inside information, as defined under the EU Market Abuse Regulation, EU No.596/2014. By the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of Seplat Energy is Emeka Onwuka, Chief Financial Officer.

 

Issued by:

Emeka Onwuka

Chief Financial Officer

Seplat Energy PLC.

Enquiries:

Seplat Energy


Emeka Onwuka, CFO

+234 (0) 1 2 770 400

Carl Franklin, Head of Investor Relations


Chioma Nwachuku, Director, External Affairs and Sustainability

Edith Onwuchekwa, Director, Legal & Company Secretary




FTI Consulting


Ben Brewerton / Chris Laing

 

+44 (0) 203 727 1000

seplat@fticonsulting.com

 

Notes to editors

Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL).

Seplat Energy is pursuing a Nigeria-focused growth strategy and is well positioned to participate in future asset divestments by international oil companies, farm-in opportunities, and future licensing rounds. The Company is a leading supplier of gas to the domestic power generation market. For further information please refer to the Company website,  http://seplatenergy.com/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
RSPKZGMKVLZGZZM
UK 100

Latest directors dealings