Tony Elumelu, chairman of Heirs Holdings, has acquired an additional six million shares in Seplat Energy Plc for £53.2 million.
According to a notification filed with the Nigerian Exchange
Limited (NGX) on Wednesday, the shares were bought by Heirs Energies Limited, a
company controlled by Elumelu.
The notice said the billionaire purchased shares at £8.87
each in a transaction conducted in London on September 30, 2026.
Following the transaction, Heirs Energies’ direct holding in
Seplat increased to 27,943,867 shares.
The filing said Heirs Energies and Heirs Holdings Limited,
both controlled by Elumelu, now jointly hold 126.4 million shares in Seplat,
representing a 21.07 percent voting interest based on the company’s 599,944,561
issued shares.
Heirs Energies and Heirs Holdings had acquired 120.4 million
shares from Maurel & Prom in December 2025.
The latest purchase also comes ahead of Elumelu’s planned
appointment as chairman of Seplat.
In June, Seplat announced that its current chairman, Udoma
Udo Udoma, would retire on December 31, 2026, with Elumelu elected to succeed
him from January 1, 2027.
Elumelu joined Seplat’s board as a non-executive director in
January 2026.
The company, in the filings, also said the transaction was
disclosed in accordance with Rule 17.15(c) of the NGX Rulebook 2015 on
disclosure of dealings in issuers’ shares and Article 19(3) of the UK market
abuse regulations.
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