Seplat Energy Plc has confirmed a significant shift in its shareholder structure following the full exit of its longtime investor, Etablissements Maurel & Prom S.A. (M&P), and the entry of Heirs Energies Limited and Heirs Holdings Limited as substantial shareholders, news.ng reports.
In a notification to the market on Tuesday, the company disclosed that M&P has sold its entire holding of 120,400,000 ordinary shares, ending its position as a shareholder in Seplat Energy.
The shares were acquired by two entities within the Heirs Group, with Heirs Energies Limited purchasing 86,639,377 ordinary shares, while Heirs Holdings Limited acquired 33,760,623 ordinary shares.
Confirming the transaction, Seplat Energy’s Chief Financial Officer, Eleanor Adaralegbe, said: “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”).”
She added that following the completion of the deal, M&P has completely exited the company, while the two new investors now hold a combined 20.07 per cent of Seplat Energy’s issued share capital.
“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 played a central role in the company’s early growth and evolution into one of Nigeria’s leading indigenous energy companies.
Acknowledging this contribution, Adaralegbe noted: “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 also welcomed the entry of the Heirs Group entities, describing the development as a positive step aligned with its long-term strategy.
“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.”
The company disclosed that additional information on the transaction has been provided in the TR-1 Standard Form for Notification of Major Holdings, filed by M&P as well as the new shareholders, Heirs Energies Limited and Heirs Holdings Limited.
The change in shareholding marks a notable milestone in Seplat Energy’s corporate journey, reinforcing growing indigenous participation in Nigeria’s energy sector and underscoring renewed investor confidence in the company’s long-term vision.
