Seplat Energy Plc (Nigeria) responds to media article on proposed takeover of Mobil Producing Nigeria Unlimited

By Published On: May 20th, 2022Categories: Corporate announcement

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


Seplat Energy Plc (SEPLAT.ng)

Share price: 1,430.50 NGN (0.00 | 0.00% – 12/08/22)

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