Seplat Energy Announces Interim Dividend Payment and Currency Options for Shareholders

Seplat Energy Plc, a prominent Nigerian energy company listed on both the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE), has declared an interim dividend of US3 cents (United States Three Cents) per Ordinary Share.

This dividend will be paid to Seplat’s shareholders whose names are registered as of the close of business on May 18, 2023.

To facilitate the dividend payment process, Seplat’s Registrar, Datamax Registrars Limited, will be closing the Register of Shareholders on May 19, 2023. This closure is necessary to prepare for the distribution of the interim dividend.

For shareholders holding their shares on the Nigerian Exchange Limited without a valid Nigerian Certificate for Capital Importation (CCI), the dividend will be paid in Naira as the default currency. Shareholders with a valid CCI can expect their dividend in US dollars as the default currency, but they also have the option to receive the entire payment in Naira. However, partial elections are not allowed, and evidence of the CCI must be provided to Datamax Registrars Limited.

Shareholders holding their shares through depository interests on the London Stock Exchange will receive their dividend in US dollars by default. Nonetheless, these shareholders also have the alternative to receive the full payment in pounds sterling. Similar to the previous case, partial elections are not permissible.

To exercise the dividend currency option, shareholders must notify the Company’s Registrars by June 2, 2023. Failure to make an election will result in the dividend being paid in the default currency. The election form will be sent to relevant shareholders and can also be accessed on Seplat’s website.

The exchange rate for the Naira or Pounds Sterling amounts payable will be determined based on the relevant exchange rates applicable to the US dollar on May 17, 2023. This information will be communicated by the Company on May 18, 2023.

The payment date for the interim dividend is scheduled for around June 16, 2023. Shareholders whose names appear on the Register of Members as of May 18, 2023, and who have completed the e-dividend registration, will receive the payment electronically into their bank accounts.

Seplat advises shareholders who have yet to complete the e-dividend registration to download the Registrar’s E-Dividend Mandate Activation Form from the company’s website or http://www.datamaxregistrars.com/images/forms/seplate_e-mandate%20form.pdf. The form should be completed and submitted to the Registrar or the respective banks. Shareholders with shares through depositary interests on the LSE should provide their account details to Computershare, the Company’s UK depositary.

Seplat Energy continues its commitment to providing value to its shareholders through consistent dividend payments and efficient dividend administration processes.