Orjiako hikes stake in Seplat to 8.4 %

Dr. Ambrosie Bryant Chukwueloka (A.B.C) Orjiako now holds a combined direct and indirect interest of 8.39 per cent in Seplat Petroleum a statement from the Nigerian Stock Exchange (NSE) has said.

The statement from Seplat Petroleum Development Company , which is in accordance to regulatory filing rules by the NSE, noted that Dr. ABC Orjiako, who is also the Chairman of Seplat Petroleum, increased his interest to 47,251,325 ordinary shares, following the sale of a portion of the shares registered in the name of Shebah Petroleum Development Company Limited.

The shares were auctioned by Zenith Securities Limited, in connection with the collateral agreement granted by Shebah Petroleum Development Company Limited to Zenith Bank plc.

A breakdown of the 47,251,325 Ordinary Shares disposable by A.B.C. Orjiako, indicates, Shebah Petroleum Development Company Limited (Shebah), which is an entity controlled by A.B.C. Orjiako and members of his family, has beneficial ownership rights in 33,773,824 Ordinary Shares, of which 18,500,000 Ordinary Shares are held by Vitol Energy (Bermuda) Limited for the benefit of Shebah.

12,600,000 Ordinary Shares are held directly by A.B.C. Orjiako’s siblings and 877,501 Ordinary Shares are held directly by A.B.C. Orjiako.