Corporate Actions Announcement

RNS Number : 1664H

Seplat Petroleum Development Co PLC

23 March 2020

 

Corporate Actions Announcement

Lagos and London, 23^rd March 2020:   Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian independent oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, today announces a final dividend at a rate of US$0.05 (United States Five Cents) per Ordinary Share subject to shareholders' approval at the 2020 Annual General Meeting; payable to Seplat's shareholders whose names appear in the Register of Members as at the close of business on 12^th May 2020.

Period Ended	31st December 2019
Dividend Announcement Date	23rd March 2020
Dividend	A Final Dividend of US$0.05 (United States Five Cents) per Ordinary Share of N0.50k each, (subject to appropriate withholding tax and shareholders' approval) will be paid to shareholders whose names appear in the Register of Members as at the close of business on 12th May 2020.
Closure of Register	To enable Seplat's Registrar, Datamax Registrars Limited, prepare for the payment of the final dividend, the Register of Shareholders will be closed on 13th May 2020.
Qualification Date	Close of Business on 12th May 2020.  Note that on the London Stock Exchange: The Associated Record Date will be 12th May 2020 and the Ex-Dividend date will be 11th May 2020.
Dividend Currency	The default currency and options on currency election for the dividend will depend as follows: •Shareholders holding their shares on the Nigerian Stock Exchange without a valid Nigerian Certificate for Capital Importation ("CCI") will be paid their dividend in Naira as the default currency; •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).  Evidence of the CCI must be provided to Datamax Registrars Limited; 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 Options	Shareholders who have a dividend currency option, must make the election to the Company's Registrars by 27th May 2020, otherwise the dividend will be paid in the default currency.  The election form will be sent out to the relevant shareholders and can also be found on the company website at  https://seplatpetroleum.com/investor-centre/corporate-governance/dividends . 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.
Determination of Exchange Rate	The exchange rate for the Naira or Pounds Sterling amounts payable will be determined by reference to the relevant exchange rates applicable to the US dollar on 11th May 2020 and will be communicated by the Company on 12th May 2020.
Payment Date	On or around 4th June 2020, the final dividend will be paid electronically to shareholders whose names appear on the Register of Members as at 12th May 2020, and who have completed the e-dividend registration and mandated the Registrar to pay their final dividend directly into their Bank accounts.
E-Dividend Registration	Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar's E-Dividend Mandate Activation Form , which is also available on: http://www.datamaxregistrars.com/images/forms/seplate_e-mandate%20form.pdf , complete and submit to the Registrar or their respective Banks. Holders of shares through depositary interests on the LSE should please provide their account details to the Company's UK depositary, Computershare. DataMax Registrars Limited Computershare 2c Gbagada Expressway The Pavillions By Beko Ransom Kuti Park Bridgewater Road Gbagada, Lagos Bristol Nigeria BS13 8AE, United Kingdom Fax: + 234 1 712 0012 Fax: [phone] Web:  www.datamaxregistrars.com Web:  www.computershare.com Email: [e-mail] Telephone: [phone]
Unclaimed Dividend Warrants and Share Certificates	Shareholders with dividend warrants and share certificates that have remained unclaimed or are yet to be presented for payment or returned for validation are advised to complete the e-dividend registration or contact the Registrar.
Date of AGM	The Company's Annual General Meeting will be held at the Eko Suites Hotel, Victoria Island, Lagos on Thursday, 28th May 2020 at 11.00am.
Enquiries	Enquiries on opening of account and payment of dividend should be directed to the appropriate Registrar. For all other enquiries, kindly contact: Seplat Petroleum Development Company Plc Roger Brown, CFO [phone] Carl Franklin / Ayeesha Aliyu - Investor Relations Phone: [phone] Email:  [e-mail] [phone] FTI Consulting Ben Brewerton / Sara Powell Phone: [phone] Email: [e-mail]
Summary of Key Dates
23 March 2020	Dividend announcement date
11 May 2020	London Stock Exchange: Ex-Dividend Date Date for determining foreign exchange rate
12 May 2020	Nigerian Stock Exchange: Qualification date London Stock Exchange: Associated Record Date Foreign exchange rates will be communicated to shareholders
13 May 2020	Nigerian Stock Exchange: Register Close Date
27 May 2020	Closing date for election to the Company's Registrars of foreign exchange rates
28 May 2020	Annual General Meeting
4 June 2020	Dividend Payment Date

Dated this 23^rd day of March 2020

Signed:

Mr. Roger Brown

Chief Financial Officer  

 

END

 

 

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