Seplat Chairman, ABC Orjiako Gets N14.66bn in 8 Months

The Chairman of Seplat Energy Plc, Dr. ABC Orjiako has made a total of N14.66 billion in eight months through his shareholding in the company.

 Orjiako currently holds 37,818,522 units of Seplat Plc shares, which is 6.43 per cent of the total shares outstanding listed on the Nigerian Exchange.

The majority of his gains was due to the performance of the company’s shares from the beginning of the year to date.Year-to-date, Seplat Energy Plc shares have appreciated impressively from N402.3 per share at the start of the year to N759.7 per share as of the end of August 2021.

The performance of the share price analysts say is a reflection of investor’s positive sentiments and confidence on the company.
As a result of this increase in share price, Dr Orjiako’s worth in the company’s shares grew by N13.50 billion.

Also a part of the gains can be attributed to the dividend declared for the FY 2020 and Q1 2021 of $0.05 and $0.025, respectively.

 Converted to naira using the official exchange rate of N410.24 and N410.29, the Chairman received a total of N1.16 billion as dividend for both periods, bringing the total amount earned to N14.66 billion.

Dr. Orjiako is the Chairman and co-founder of Seplat Energy Plc. The company is a leading Nigerian independent oil and gas company listed on the London and Nigerian Stock Exchanges with a strategic focus on the Niger Delta area of Nigeria.

In his capacity as Chairman, he has steered the company to steadily emerge as a global brand while attaining its remarkable growth aspirations. Under his watch, the company pioneered dual listing of its shares on the Nigerian and London stock exchanges in 2014. In recognition of the company’s achievements, Seplat won the Best Africa listing 2014 award by Africa Investors (Ai).

In July 2021, Westport Oil Limited, a subsidiary of Seplat Energy Limited, secured a $50 million offtake-linked reserved-based lending facility due April 2027.Seplat Petroleum Development Company Plc changed its name to Seplat Energy Plc in June 2021 following authorization by the company’s shareholders.

At the end of H1 2021, the company’s financial results for the period further showed that revenue grew 32.3 per cent to $308.8 million in H1’21, from $233.5 million in H1’20; earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at $178.9 million.

In addition, the company announced an interim dividend of 2.5 cents which was paid to existing shareholders on the 12th of August 2021.

Seplat Energy Plc share price has appreciated by 88.84 per cent year-to-date from N402.3 at the start of the year, to N759.7 at the end of August.