REG - Seplat Energy PLC - Notification of Major Holdings
Tue 15:15
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RNS Number : 8723N Seplat Energy PLC 06 January 2026
Seplat Energy Plc ("Seplat Energy" or the "Company")
Notification of Major Holdings
Lagos and London, 6 January 2026: The Company has received formal
notification of the sale of 120,400,000 ordinary shares by major shareholder -
Etablissements Maurel & Prom S.A. ("M&P"). The shares were acquired as
follows:
· 86,639,377 ordinary shares by Heirs Energies Limited.
· 33,760,623 ordinary shares by Heirs Holdings Limited.
Following this transaction, M&P no longer holds any shares in the Company
while Heirs Energies Limited and Heirs Holdings Limited now jointly hold
120,400,000 ordinary shares, representing 20.07% of the Company's issued share
capital.
M&P was a founding investor in Seplat Energy and remained one of the
Company's largest shareholders until now. The Company recognises and
appreciates the significant role M&P has played in supporting Seplat
Energy's growth and development into a leading independent Nigerian energy
company and wishes M&P every success in its future endeavours.
Seplat Energy is pleased to welcome Heirs Energies Limited and Heirs Holdings
Limited as shareholders and looks forward to working together to continue
advancing Seplat's strategic objectives and long-term ambition of becoming a
leading African energy champion.
Further details of the transaction are set out in the attached TR-1 Standard
Form for Notification of Major Holdings by M&P and the new shareholders -
Heirs Energies Limited and Heirs Holdings Limited.
For: Seplat Energy Plc
Eleanor Adaralegbe
Chief Financial Officer
TR-1: Standard form for notification of major holdings
1. Issuer Details
ISIN
NGSEPLAT0008
Issuer Name
SEPLAT ENERGY PLC
UK or Non-UK Issuer
Non-UK
2. Reason for Notification
An acquisition or disposal of voting rights
3. Details of person subject to the notification obligation
Name
Etablissements Maurel & Prom S.A.
City of registered office (if applicable)
Paris
Country of registered office (if applicable)
France
4. Details of the shareholder
Full name of shareholder(s) if different from the person(s) subject to the
notification obligation, above
City of registered office (if applicable)
Country of registered office (if applicable)
5. Date on which the threshold was crossed or reached
30-Dec-2025
6. Date on which Issuer notified
02-Jan-2026
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8.A) % of voting rights through financial instruments (total of 8.B 1 + 8.B 2) Total of both in % (8.A + 8.B) Total number of voting rights held in issuer
Resulting situation on the date on which threshold was crossed or reached 0.000000 0.000000 0.000000 0
Position of previous notification (if applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached
8A. Voting rights attached to shares
Class/Type of shares ISIN code(if possible) Number of direct voting rights (DTR5.1) Number of indirect voting rights (DTR5.2.1) % of direct voting rights (DTR5.1) % of indirect voting rights (DTR5.2.1)
NGSEPLAT0008 0 0 0.000000 0.000000
Sub Total 8.A 0 0.000000%
8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))
Type of financial instrument Expiration date Exercise/conversion period Number of voting rights that may be acquired if the instrument is % of voting rights
exercised/converted
Sub Total 8.B1
8B2. Financial Instruments with similar economic effect according to
(DTR5.3.1R.(1) (b))
Type of financial instrument Expiration date Exercise/conversion period Physical or cash settlement Number of voting rights % of voting rights
Sub Total 8.B2
9. Information in relation to the person subject to the notification
obligation
1. Person subject to the notification obligation is not controlled by any
natural person or legal entity and does not control any other undertaking(s)
holding directly or indirectly an interest in the (underlying) issuer.
Ultimate controlling person Name of controlled undertaking % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
10. In case of proxy voting
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional Information
12. Date of Completion
13. Place Of Completion
Paris, France
TR-1: Standard form for notification of major holdings
1a. Identity of the issuer or the underlying issuer of existing shares to Seplat Energy Plc
which voting rights are attached (ii):
1b. Please indicate if the issuer is a non-UK issuer (please mark with an
"X" if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with
an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) (iii):
3. Details of person subject to the notification obligation (iv)
Name Heirs Energies Limited
City and country of registered office (if applicable) Lagos, Nigeria
4. Full name of shareholder(s) (if different from 3.) (v)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached (vi): 31/12/2025
6. Date on which issuer notified (DD/MM/YYYY): 05/01/2026
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B) (vii)
(total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached 14.44% 14.44%
Position of previous notification (if
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights (ix) % of voting rights
shares
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
Ordinary Shares 86,639,377 14.44%
SUBTOTAL 8. A 86,639,377 14.44%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration Exercise/ Number of voting rights that may be acquired if the instrument is % of voting rights
date (x)
Conversion Period (xi)
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial instrument Expiration Exercise/ Physical or cash Number of voting rights % of voting rights
date (x)
Conversion Period (xi)
Settlement (xii)
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or X
the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional rows as
necessary) (xiv)
Name (xv) % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
Heirs Alliance Limited 60% in Heirs Holdings Limited 60%
Heirs Holdings Limited 99% in TNOG Limited 99%
TNOG Limited 49% in Heirs Energies 49%
HHOG Limited 51% in Heirs Energies 51%
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information (xvi)
Place of completion Lagos, Nigeria
Date of completion 31/12/2025
TR-1: Standard form for notification of major holdings
1a. Identity of the issuer or the underlying issuer of existing shares to Seplat Energy Plc
which voting rights are attached (ii):
1b. Please indicate if the issuer is a non-UK issuer (please mark with an
"X" if appropriate)
Non-UK issuer X
2. Reason for the notification (please mark the appropriate box or boxes with
an "X")
An acquisition or disposal of voting rights X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) (iii):
3. Details of person subject to the notification obligation (iv)
Name Heirs Holdings Limited
City and country of registered office (if applicable) Lagos, Nigeria
4. Full name of shareholder(s) (if different from 3.) (v)
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached (vi): 31/12/2025
6. Date on which issuer notified (DD/MM/YYYY): 05/01/2026
7. Total positions of person(s) subject to the notification obligation
% of voting rights attached to shares (total of 8. A) % of voting rights through financial instruments Total of both in % (8.A + 8.B) Total number of voting rights held in issuer (8.A + 8.B) (vii)
(total of 8.B 1 + 8.B 2)
Resulting situation on the date on which threshold was crossed or reached 5.63% 5.63%
Position of previous notification (if
applicable)
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached (viii)
A: Voting rights attached to shares
Class/type of Number of voting rights (ix) % of voting rights
shares
ISIN code (if possible)
Direct Indirect Direct Indirect
(DTR5.1) (DTR5.2.1) (DTR5.1) (DTR5.2.1)
Ordinary Shares 33,760,623 5.63%
SUBTOTAL 8. A 33,760,623 5.63%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument Expiration Exercise/ Number of voting rights that may be acquired if the instrument is % of voting rights
date (x)
Conversion Period (xi)
exercised/converted.
SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R
(1) (b)
Type of financial instrument Expiration Exercise/ Physical or cash Number of voting rights % of voting rights
date (x)
Conversion Period (xi)
Settlement (xii)
SUBTOTAL 8.B.2
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural
person or legal entity and does not control any other undertaking(s) holding
directly or indirectly an interest in the (underlying) issuer (xiii)
Full chain of controlled undertakings through which the voting rights and/or X
the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity (please add additional rows as
necessary) (xiv)
Name (xv) % of voting rights if it equals or is higher than the notifiable threshold % of voting rights through financial instruments if it equals or is higher Total of both if it equals or is higher than the notifiable threshold
than the notifiable threshold
Heirs Alliance Limited 60% in Heirs Holdings 60%
Tony Elumelu 30% in Heirs Holdings 30%
Awele Elumelu 10% in Heirs Holdings 10%
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information (xvi)
Place of completion Lagos, Nigeria
Date of completion 31/12/2025
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