2015 Interim Dividend Currency Exchange Rates

RNS Number : 0881E

SEPLAT Petroleum Development Co PLC

30 October 2015

 

Seplat Petroleum Development Company Plc ("Seplat" or the "Company")

ANNOUNCEMENT OF 2015 INTERIM DIVIDEND CURRENCY EXCHANGE RATES

Seplat today confirms that the following currency exchange rates will be applicable in determination of the 2015 interim dividend payment to any shareholders that qualify for and have elected to receive the 2015 interim dividend payment in Naira or GBP:

Exchange Rates:

1 USD = 199.0000 Naira

1 USD = 0.6553 GBP

The exchange rate for the Naira or pounds sterling amounts payable was determined by reference to the exchange rates applicable to the US dollar available on 29^th October 2015.

Additional information

The Company announced on 26^th October 2015 that the default currency for the 2015 interim dividend will depend on whether the shareholder has a Nigerian Certificate for Capital Importation ("CCI") and is determined as follows:

·     Shareholders holding their shares on the Nigerian Stock Exchange and do not hold a valid CCI will be paid their dividend in Naira;

·     Shareholders holding their shares on the Nigerian Stock Exchange with a valid CCI will be paid their dividend in US dollars as the default currency.  However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible); and

·     Shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency.  However, those shareholders may instead elect to receive their entire dividend payment in pounds sterling.  Partial elections are not permissible.

Shareholders who have the option to elect to be paid their dividends in a currency other than their default currency must make the election to the Company's registrars by 9^th November 2015, otherwise the dividend will be paid in the default currency.  The election forms have been sent out to the relevant shareholders and can also be found on the Company's website at http://seplatpetroleum.com/investor-centre/corporate-governance/circulars/.  Those shareholders holding their shares on the Nigerian Stock Exchange who hold a valid CCI should notify Seplat's Nigerian registrars, DataMax Registrars Limited ("DataMax"), of that fact.

Seplat shareholders who are yet to provide their account details for the direct credit of the 2015 interim dividend payment should please provide the necessary information to DataMax.  Holders of shares through depositary interests on the London Stock Exchange should please provide their account details to the Company's UK depositary, Computershare.

DataMax Registrars Limited	Computershare
2c Gbagada Expressway	The Pavillions
Gbagada Phase 1	Bridgewater Road
Lagos	Bristol
Nigeria	BS13 8AE, United Kingdom
Fax: + 234 - 2716095	Fax: [phone]
Web: www.datamaxregistrars.com	Web: www.computershare.com
Email address: [e-mail] Telephone: [phone]	Telephone: [phone]

- Ends -

Enquiries:

Seplat Petroleum Development Company Plc
Roger Brown, CFO
Andrew Dymond, Head of Investor Relations	[phone]
Chioma Nwachuku, GM - External Affairs and Communications	[phone]
FTI Consulting	[phone]
Ben Brewerton / Sara Powell / George Parker	[e-mail]

Notes to editors

Seplat Petroleum Development Company Plc is a leading indigenous Nigerian oil and gas exploration and production company with a strategic focus on Nigeria, listed on the Main Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian Stock Exchange ("NSE") (NSE:SEPLAT).

In July 2010, Seplat acquired a 45 percent participating interest in, and was appointed operator of, a portfolio of three onshore producing oil and gas leases in the Niger Delta (OMLs 4, 38 and 41), which includes the producing Oben, Ovhor, Sapele, Okporhuru, Amukpe and Orogho fields.  Since acquisition, Seplat has more than tripled production from these OMLs. 

In June 2013, Newton Energy Limited, a wholly-owned subsidiary of the Company, entered into an agreement with Pillar Oil Limited to acquire a 40 percent participating interest in the Umuseti/Igbuku marginal field area within OPL 283.   In February 2015, Seplat completed the acquisition of a 40 percent operated working interest in OML 53 and a 22.5 percent operated effective working interest in OML 55, Onshore Nigeria.

Seplat is pursuing a Nigeria focused growth strategy and is well-positioned to participate in future divestment programmes by the international oil companies, farm-in opportunities and future licensing rounds.  For further information please refer to the company website, http://seplatpetroleum.com/

 

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