REG - Seplat Energy PLC - Appointment of New Non-Executive Chair & Director

Seplat EnergyAnnouncement

29/02/2024 07:15

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RNS Number : 9345E  Seplat Energy PLC  29 February 2024

 

 

 

 

 

 

 

 

 

 

 

 

Seplat Energy Plc ("Seplat Energy" or "the Company")

Appointment of Mr. Udoma Udo Udoma as Independent Non-Executive Chairman

and Mr. Bello Rabiu as Senior Independent Non-Executive Director

Lagos and London, 29 February 2024: Seplat Energy, a leading Nigerian energy
company dual listed on both the Nigerian Exchange Limited and the London Stock
Exchange, is pleased to announce the appointment of Mr. Udoma Udo Udoma as the
Company's new Independent Non-Executive Chairman to succeed Mr. Basil Omiyi
who will retire on March 31, 2024. Mr. Udoma's appointment was approved after
a unanimous vote by Directors of Seplat Energy, in compliance with the
Nigerian Companies and Allied Matters Act ("CAMA") 2020 and is effective April
1, 2024.

Seplat Energy is also pleased to announce the appointment of Mr. Bello Rabiu
as the new Senior Independent Non- Executive Director effective April 1, 2024,
to succeed Dr. Charles Okeahalam who will be retiring March 31, 2024.

These appointments are in line with the Board Succession Forward Plan
announced via Corporate Announcement on April 25, 2023 (RNS: 3575X) and via a
subsequent Corporate Announcement on November 1, 2023 (RNS: 0096S) wherein it
was announced that Mr. Basil Omiyi and Dr Charles Okeahalam will retire from
the Board on March 31, 2024.  These appointments further demonstrate the
commitment of the Board to upholding its strong corporate governance culture
and in establishing a truly independent Board.

Mr. Udoma Udo Udoma: Mr. Udoma is an accomplished lawyer and seasoned board
administrator. Mr. Udoma attended St. Catherine's College, Oxford, England
where he obtained a B.A. (Law) degree and a B.C.L. degree in jurisprudence. He
was admitted to the Nigerian Bar in 1978. He founded the Law Firm Udo-Udoma
& Belo Osagie in 1983 and retired from active legal practice in early
2020. Whilst in practice, Mr. Udoma specialized in advising on Nigerian
investment laws and the investment environment, particularly in the petroleum,
energy, and natural resources sectors. He advised Nigerian and international
companies on company law, corporate restructuring, mergers and acquisitions
and the raising of financing in the capital and money markets, as well as on
major construction and engineering contracts.

Mr. Udoma has served on a number of large sized company boards. He was
Chairman of UAC Nigeria Plc and Union Bank Plc and served on the boards of
companies such as Unilever Nigeria Plc., Linkage Assurance Plc and First
Hydrocarbon Nigeria Limited. He has also held a number of public sector
appointments. He was the first Chairman of the Corporate Affairs Commission
(CAC) and has also served as the Chairman of the Nigerian Securities &
Exchange Commission (SEC). He was the Special Adviser to the Minister of
Petroleum and Natural Resources from September 1993 to March 1994 and served
as Minister of Budget & National Planning from 2015 to 2019. He was
elected to the Nigerian Senate in 1999 and served for two terms from 1999 to
2007. Mr. Udoma is currently the Pro-Chancellor of Akwa Ibom State University,
Ikot Akpaden, Akwa Ibom State, Nigeria.

Mr. Bello Rabiu: Mr. Bello Rabiu holds a Bachelor's and Master's Degrees in
Mathematical Statistics from Ahmadu Bello University Zaria, Nigeria and
another Master's Degree in Petroleum Engineering from The Imperial College,
London, United Kingdom. He attended many career advancements courses in
Nigeria and abroad including the prestigious Wharton Executive Development
Program from the University of Pennsylvania in Philadelphia, USA and Leading
Global Business Program from Harvard Business School, Boston, USA.

Before his new role as the Founder and Chief Executive Officer of Dankiri
Farms and Commodities Limited, Mr. Rabiu retired from the services of Nigerian
National Petroleum Corporation (NNPC) in July 2019 after 28 years of service.
He retired from NNPC as the Chief Operating Officer/Group Executive Director
(COO/GED), Upstream Business Unit. Prior to his appointment as COO/GED
Upstream, NNPC. Mr. Rabiu held dual positions of Group General Manager,
Corporate Planning & Strategy Division and Senior Technical Assistant to
Group Managing Director, NNPC. He was also the General Manager, Competitive
Analysis Department of the same Division from September 2010 till August 11th,
2015. He was at various times between 1991 and 2005 a planning officer and
Pioneer Head, Material Management, Frontier Exploration Services at the
National Petroleum Investment Management Services (NAPIMS) Division of NNPC.

As COO/GED Upstream of NNPC, Mr. Rabiu oversaw the activities of the
Corporation's Upstream businesses, including; National Petroleum Investment
Management Services (NAPIMS), National Engineering and Technical Company
(NETCO), Nigerian Petroleum Development Company (NPDC), Integrated Data
Services Limited (IDSL) and NNPC Oil Field Services (NOFS). He has a balanced
knowledge of the Exploration & Production industry in Nigeria with unusual
capability which combines commercial/fiscal knowledge with operations. This
was particularly valuable in the development of the 2016 Nigerian Government
approved upstream Joint Venture funding scheme which has restored the
confidence of the International Oil Companies (IOCs) and Independent Partners
in Nigeria's Upstream Joint Venture resulting in increased national oil
production of 2.3mbpd by 2019. He was responsible for the implementation of
the 7 Critical Domestic Gas Development Projects (including AGPC), an offshoot
of Nigerian Gas Master Plan aimed at using gas for Nigeria's
industrialization, economic growth, and development - where significant
consideration had to be given to strategic intent, fiscal rules, and
commerciality of supply.

Mr. Basil Omiyi, the Chairman of Seplat Energy, said:

"Seplat Energy's commitment to strong corporate governance remains unwavering
and is demonstrated by the recent appointment of Mr. Udoma Udo Udoma and Mr.
Bello Rabiu as the new chairman and SINED respectively.

We are confident that under their guidance, Seplat Energy will continue to
expand and consolidate its position as Nigeria's leading energy company and
the partner of choice to deliver energy transition for Africa's largest
economy and its rapidly growing population."

For: Seplat Energy Plc

 

MRS. EDITH ONWUCHEKWA

Company Secretary / Director Legal

 

Enquiries:

 Seplat Energy Plc
 Emeka Onwuka,      Chief Financial Officer
 Chioma Afe,        Director External Affairs and Social Performance
 Edith Onwuchekwa,  Company Secretary/Director Legal
 James Thompson,    Head of Investor
                    Relations
 FTI Consulting     Ben Brewerton / Christopher Laing

                    +44 (0) 203 727 1000 seplat@fticonsulting.com
                    (mailto:seplat@fticonsulting.com)

 

About Seplat Energy Plc

Seplat Energy is Nigeria's leading indigenous energy company. Listed on the
Nigerian Exchange Limited (NGX: SEPLAT) and the Main Market of the London
Stock Exchange (LSE: SEPL), we are pursuing a Nigeria-focused growth strategy
in Oil and Gas, as well as developing a Power & New Energy business to
lead Nigeria's energy transition.

 

For further information, please refer to the Company's website:
https://www.seplatenergy.com/ (https://www.seplatenergy.com/)

 

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