REG - Seplat Energy PLC - Response to media on proposed acquisition of MPNU

Seplat EnergyAnnouncement

19/05/2022 18:00

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RNS Number : 1766M  Seplat Energy PLC  19 May 2022

 

 

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

Response to media article on proposed acquisition of Mobil Producing Nigeria
Unlimited ("MPNU").

Lagos and London, 19 May 2022: In response to an article published today in
This Day newspaper, stating that the Federal Government of Nigeria has
declined consent to the acquisition of Mobil Producing Nigeria Unlimited
("MPNU"), Seplat Energy confirms that it has received a letter from the Chief
Executive, Nigerian Upstream Petroleum Regulatory Commission ("NUPRC") on the
process. The Company has also been notified by the shareholders of MPNU
confirming that MPNU received a letter from NUPRC declining their consent.

Under the terms of the Sale and Purchase Agreement ("SPA"), announced on 25
February 2022, which remains valid and subsisting, the Company will further
its engagement with all relevant stakeholders.

Seplat Energy is confident that the process to obtain all approvals on the
acquisition of MPNU's entire share capital is being followed and will be
achieved.

This announcement is made pursuant to Rule 17.10 of the Rulebook of the
Nigerian Exchange Limited, 2015 (Issuer's Rule).

Inside Information

Some of the information contained within this announcement is considered by
Seplat Energy to constitute inside information, as defined under the EU
Market Abuse Regulation, EU No.596/2014. By the publication of this
Announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain. The person responsible for
arranging for the release of this announcement on behalf of Seplat Energy is
Emeka Onwuka, Chief Financial Officer.

 

Issued by:

Emeka Onwuka

Chief Financial Officer

Seplat Energy PLC.

 Enquiries:

 Seplat Energy
 Emeka Onwuka, CFO                                               +234 (0) 1 2 770 400
 Carl Franklin, Head of Investor Relations
 Chioma Nwachuku, Director, External Affairs and Sustainability

 Edith Onwuchekwa, Director, Legal & Company Secretary

 FTI Consulting
 Ben Brewerton / Chris Laing                                     +44 (0) 203 727 1000

                                                                 seplat@fticonsulting.com

 

Notes to editors

Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed
on the Premium Board of the Nigerian Exchange (NGX: SEPLAT) and the Main
Market of the London Stock Exchange (LSE: SEPL).

Seplat Energy is pursuing a Nigeria-focused growth strategy and is well
positioned to participate in future asset divestments by international oil
companies, farm-in opportunities, and future licensing rounds. The Company is
a leading supplier of gas to the domestic power generation market. For further
information please refer to the Company website, http://seplatenergy.com/
(http://seplatenergy.com/)

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