Charles Chinedu Okeahalam Increases Stake in Seplat Energy

The board of Seplate Energy Plc announced that Dr. Charles Chinedu Okeahalam, an Independent Non- Executive Director of the Company in the company has purchased 204,752 ordinary shares in the company.

According to a statement signed by Mrs. Edith Onwuchekwa, Director, Legal/Company Secretary and obtained by Investors King, Charles Chinedu Okeahalam purchased the shares at GBP£1.1001838 a unit. Bringing the total value of the acquisition to GBP£225,265 or N122.701 million.

The shares were purchased on March 31, 2022, from the trading floor of the Nigerian Exchange Limited.

Seplat statement reads “The Company was notified of the purchase of 204,752 ordinary shares registered in the name of Dr. Charles Chinedu Okeahalam, an Independent Non- Executive Director of 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 Exchange and Article 19 of the EU Market Abuse Regulations.”

Dr Charles Chinedu Okeahalam

Dr Charles Chinedu Okeahalam is a Nigerian economist and businessman. He has worked in both the private and public sectors, and has lectured at universities on the African continent. He co-founded the investment firm AGH Capital Group in 2002.

Okeahalam has also worked as a policymaker in a number of African countries. He has led a number of initiatives, such as revision of prudential regulatory framework, deposit insurance schemes, capital market development and financing transnational infrastructure networks.

Okeahalam began his career as an investment analyst in Britain in 1986. He has served as adviser to a number of central banks, government ministries, the World Bank and the United Nations Economic Commission for Africa.

He was a professor of banking and finance at the University of the Witwatersrand in Johannesburg, South Africa. Between 1997 and 1998, he was financial institutions adviser to the Bank of Namibia, and banking and finance professor at the University of Namibia.

From 1999 to 2002, Okeahalam served as lead adviser to the South African Reserve Bank. He also worked as an economic adviser to the ANC-led government.