REG - Seplat Energy PLC - Results of the Thirteenth Annual General Meeting
21/05/2026 15:15
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RNS Number : 3359F Seplat Energy PLC 21 May 2026
Seplat Energy PLC ("Seplat" or the "Company")
Results of the Thirteenth Annual General Meeting
Lagos and London, 21 May 2026: Seplat Energy PLC announces that at its Annual
General Meeting held virtually via https://www.seplatenergy.com/agm-2026/
(https://www.seplatenergy.com/agm-2026/) yesterday, Wednesday, 20 May 2026,
all resolutions set out in the Notice of the Annual General Meeting put to the
Shareholders were duly passed by the requisite majority.
The results of each resolution voted by way of poll, including proxy votes
lodged with the Company's Registrars, are set out below:
Votes FOR Votes AGAINST Votes WITHHELD/ ABSTAIN Total Votes Cast (excluding Votes
Withheld/ Abstain)
Number of shares % of shares voted Number of shares % of shares voted Number of shareholders Number of shares For & Against % of ISC
RESOLUTIONS
1. Resolution 1: To receive the Audited Financial Statements of the Company for 411,674,708 99.99% 600 0.00% 4 411,675,308
the year ended 31 December 2025, together with the Reports of the Directors,
Auditors and the Statutory Audit Committee thereon. 68.62%
2. Resolution 2: To declare a final dividend recommended by the Board of 412,229,157 99.99% 758 0.00% 1 412,229,915
Directors of the Company in respect of the financial year ended 31 December
2025. 68.71%
3. Resolution 3: To re-appoint PriceWaterhouseCoopers ("PWC") as Auditors of the Noted by Shareholders
Company from the conclusion of this meeting until the conclusion of the next
general meeting of the Company at which the Company's Annual Accounts are
laid.
4. Resolution 4: To authorise the Board of Directors of the Company to determine 410,140,634 99.99% 2,471 0.00% 14 410,143,105
the Auditors' remuneration.
68.36%
5. Resolution 5: To elect/re-elect the following Directors:
5(a)(i): To approve the appointment of Mr. Larry Ettah as an Independent 409,988,054 99.97% 133,758 0.03% 20 410,121,812 68.36%
Non-Executive Director of the Company;
5(a)(ii): To approve the appointment of Mr. Tony Elumelu as a Non-Executive 409,843,811 99.96% 170,799 0.04% 9 410,014,610 68.34%
Director of the Company;
5(b)(i): To re-elect Mr. Udoma Udo Udoma as an Independent Non-Executive 410,128,990 99.99% 600 0.00% 7 410,129,590 68.36%
Director of the Company;
5(b)(ii): To re-elect Mr. Christopher Okeke as an Independent Non-Executive 409,981,008 99.99% 20,588 0.01% 16 410,001,596
Director of the Company.
68.34%
6. Resolution 6: To disclose the remuneration of managers of the Company. (Please Noted by Shareholders
see note 6).
7. Resolution 7: To elect the shareholder representatives of the Statutory Audit As there were only three (3) shareholder nominees for the three (3) available
Committee (Please see note 7). positions, the shareholder representatives of the Statutory Audit Committee
were deemed duly elected. Accordingly, the members of the Statutory Audit
Committee, comprising three (3) shareholder representatives and two (2)
Board-nominated representatives, were approved as follows: (a) Mr. Abayomi
Adeyemi (Shareholder Representative); (b) Mrs. Hauwa Umar (Shareholder
Representative); (c) Mr. Nornah Awoh (Shareholder Representative); (d) Mrs.
Bashirat Odunewu (Board Representative); and (e) Mr. Kazeem Raimi (Board
Representative).
8. Resolution 8: To approve the Remuneration Section of the Directors' 411,431,771 99.99% 622 0.00% 11 411,432,393
Remuneration Report set out in the Annual Report and Accounts for the year
ended 31 December 2025 (including the forward-looking Remuneration Policy). 68.58%
Notes:
1. Further to the signing into law of the Business Facilitation
(Miscellaneous Provisions) Act 2022, which allows public companies to hold
meetings electronically, this AGM was held virtually. The virtual meeting link
for the AGM is https://www.seplatenergy.com/agm-2026/
(https://www.seplatenergy.com/agm-2026/) . The virtual meeting is available on
the Company's website at www.seplatenergy.com (http://www.seplatenergy.com) .
2. In accordance with the Company's articles of association, on a
poll every member present in person or by proxy has one vote for every share
held. There were no restrictions on shareholders to cast votes on any of the
resolutions proposed at the AGM.
3. A "Vote Withheld" is not a vote in law and is not counted in the
calculation of the proportion of votes "For" or "Against" any resolution nor
in the calculation of the proportion of "Percentage of ISC voted" for any
resolution.
4. The percentage of votes "For" and "Against" any resolution is
expressed as a percentage of votes validly cast for that resolution.
5. In accordance with Section 401 of CAMA, 2020, the retiring
Auditor shall be re-appointed without passing a resolution.
6. In accordance with Section 257 of CAMA 2020, full details on the
compensation of managers of the Company, set out on page 95 of the 2025 Annual
Report was disclosed to the members at the Annual General Meeting.
7. In accordance with Section 404(3) to (6) of the Nigerian
Companies and Allied Matters Act (CAMA) 2020, the Statutory Audit Committee is
required to comprise five (5) members, being three (3) shareholder
representatives and two (2) non-executive directors. As there were only three
(3) shareholder nominees for the three available positions, the shareholder
representative members of the Statutory Audit Committee were deemed duly
elected, as the number of nominees did not exceed the available positions.
8. The Issued Share Capital ("ISC") at the time of the Annual
General Meeting was 599,944,561 shares denominated in Naira of 50 kobo per
share. The proportion of "Percentage of ISC voted" for any resolution is the
total of votes "For" and "Against" in respect of that resolution expressed as
a percentage of the ISC.
9. In accordance with LR 9.6.2, copies of the relevant ordinary
resolutions passed at the meeting have been submitted to the FCA's National
Storage Mechanism and will shortly be available to view at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) . The full text of
the resolutions passed at the Annual General Meeting can be found in the
Notice of Annual General Meeting, which is available for inspection at the
National Storage Mechanism and also on the Company's website at
http://www.seplatenergy.com (http://www.seplatenergy.com) .
- Ends -
Mrs. Edith Onwuchekwa
Director, Legal/Company Secretary
FOR: SEPLAT ENERGY PLC.
Enquiries
Seplat Energy Plc +234 12 770 400
Eleanor Adaralegbe, Chief Financial Officer
Edith Onwuchekwa, Director Legal /Company Secretary
James Thompson, Head of Investor Relations
Chioma Afe, Director, External Affairs and Social Performance
FTI Consulting
Ben Brewerton / Chris Laing +44 (0) 203 727 1000
seplat@fticonsulting.com (mailto:seplat@fticonsulting.com)
About Seplat Energy
Seplat Energy Plc is Nigeria's leading indigenous energy company. It is listed
on the Premium Board of the Nigerian Exchange Limited (NGX: SEPLAT) and the
Main Market of the London Stock Exchange (LSE: SEPL). Through our strategy to
build a sustainable business and deliver energy transition, we are
transforming lives by delivering affordable, reliable and sustainable energy
that drives social and economic prosperity.
Seplat Energy's portfolio consists of 11 PMLs, 17 PPLs and 5 OMLs in onshore
and shallow water locations in the prolific Niger Delta region of Nigeria,
which we operate with partners including the Nigerian Government and other
producers. Furthermore, we have an operated interest in three export terminals
including; the Qua Iboe export terminal, Yoho FSO, and Bonny River Terminal
(BRT), and operate two large offshore NGL recovery plants at Oso and EAP.
We operate three gas processing plants onshore, at Oben and Sapele on our
Western Assets and the 300 MMscfd ANOH Gas Processing Plant on our Eastern
Assets, an integrated joint venture with NGIC. Combined, these gas facilities
augment Seplat Energy's position as a leading supplier of natural gas to the
domestic power generation market.
For further information please refer to our website,
https://www.seplatenergy.com/ (https://www.seplatenergy.com/) .
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