National Storage Mechanism | Additional information

RNS Number : 4416I

SEPLAT Petroleum Development Co PLC

19 June 2017

For immediate release:

19 June, 2017

SEPLAT Petroleum Development Company Plc (the "Company")

Notification of Major Interests in Shares

On 16 June 2017, the Company was notified, pursuant to DTR 5.1.2R, that the transactions set out below occurred:

1. Following the sale of a portion of the shares registered in the name of Shebah Petroleum Development Company Limited actioned by Zenith Securities Limited in connection with the collateral agreement granted by Shebah Petroleum Development Company Limited to Zenith Bank plc which was previously notified by the Company on 27 May 2015, Dr. Ambrosie Bryant Chukwueloka Orjiako, who holds an indirect interest in the shares of Shebah Petroleum Development Company Limited and is the Chairman of the Company, now holds a combined direct and indirect interest in 47,251,325 ordinary shares in the Company representing approximately 8.39% of the voting rights of the Company's issued share capital.

2. Further details of the transaction are set out in the attached TR-1 (Notification of Major Interest in Shares).

3. This notification is made in accordance with DTR 5.8.12R(2).

Details of duly authorised officer of issuer responsible for making notification:

Roger Brown, CFO +44 (0) 203 725 6500

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESⁱ


1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ⁱⁱ		SEPLAT Petroleum Development Company Plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			X
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: ⁱⁱⁱ	Dr. Ambrosie Bryant Chukwueloka Orjiako
4. Full name of shareholder(s) (if different from 3.):^iv	Shebah Petroleum Development Company Limited
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	Notifier was informed of the series of transactions as a result of which the threshold was crossed on 9 June, 2017 (the transactions were effected between 24 May 2017 and 9 June 2017)
6. Date on which issuer notified:	16 June 2017
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	10%

8. Notified details:

A: Voting rights attached to shares ^{viii, ix}

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights ^x

Direct

Direct ^xi

Indirect ^xii

Direct

Indirect

NGSEPLAT0008

67,099,592

877,501

46,373,824

0.16%

8.23%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date ^xiii

Exercise/
Conversion Period ^xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments ^{xv, xvi}

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date ^xvii

Exercise/
Conversion period ^xviii

Number of voting rights instrument refers to

% of voting rights ^{xix, xx}

N/A

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

47,251,325

8.39%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: ^xxi

Total disclosable direct and indirect holding for A.B.C. Orjiako: 47,251,325 (8.39%)

Chain of control:

Of the 47,251,325 Ordinary Shares disclosable by A.B.C. Orjiako, Shebah Petroleum Development Company Limited (Shebah), which is an entity controlled by A.B.C. Orjiako and members of his family, has beneficial ownership rights in 33,773,824 Ordinary Shares, of which 18,500,000 Ordinary Shares are held by Vitol Energy (Bermuda) Limited for the benefit of Shebah. 12,600,000 Ordinary Shares are held directly by A.B.C. Orjiako's siblings and 877,501 Ordinary Shares are held directly by A.B.C. Orjiako.

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease
to hold:

N/A

12. Date on which proxy holder will cease to hold
voting rights:

N/A

13. Additional information:

This disclosure has been calculated based on issued share capital amount 563,444,561.

14. Contact name:

Winston & Strawn London LLP (Ref: ZJA)

15. Contact telephone number:

+44 20 7011 8700

Note: Annex should only be submitted to the FCA not the issuer
Annex: Notification of major interests in share

A: Identity of the persons or legal entity subject to the notification obligation
Full name (including legal form of legal entities)	Dr. Ambrosie Bryant Chukwueloka Orjiako
Contact address (registered office for legal entities)	c/o Winston & Strawn London LLP CityPoint One Ropemaker Street London EC2Y 9AW United Kingdom FAO: Zoe Ashcroft
Phone number & email	+44 20 7011 8700 [email protected]
Other useful information (at least legal representative for legal persons)	As above

B: Identity of the notifier, if applicable
Full name
Contact address
Phone number & email
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

This information is provided by RNS

The company news service from the London Stock Exchange

END

HOLUKABRBBANARR