Results of the Eleventh Annual General Meeting

Seplat Energy PLC

17 May 2024

 

Seplat Energy PLC ("Seplat" or the "Company")

Results of the Eleventh Annual General Meeting

Lagos and London, 17 May 2024: Seplat Energy PLC announces that at its Annual General Meeting held virtually via

https://www.seplatenergy.com/agm-2024/ yesterday, Thursday, 16 May 2024, all resolutions set out in the Notice of the Annual General Meeting put to the Shareholders were duly passed by the requisite majority.

The results of each resolution voted by way of poll, including proxy votes lodged with the Company's Registrars, are set out below:

		Votes FOR		Votes AGAINST		Votes Withheld/ Abstain	Total Votes Cast (excluding Votes Withheld/Abstain)
	RESOLUTIONS	Number of shares	% of shares voted	Number of shares	% of shares voted	Number of shares	Number  of shares For & Against	% of ISC
1.	Resolution 1:  To receive the Audited Financial Statements of the Company for the year ended 31 December 2023, together with the Reports of the Directors, Auditors and the Statutory Audit Committee thereon.	303,969,252	100.00%	Nil	Nil	Nil	303,969,252	51.66%
2.	Resolution 2: To declare a final dividend recommended by the Board of Directors of the Company in respect of the financial year ended 31 December 2023.	307,446,996	100.00%	Nil	Nil	Nil	307,446,996	52.25%
3.	Resolution 3: To re-appoint PriceWaterhouseCoopers ("PWC") as Auditors of the Company from the conclusion of this meeting until the conclusion of the next general meeting of the Company at which the Company's Annual Accounts are laid.	Noted by Shareholders
4	Resolution 4: To authorise the Board of Directors of the Company to determine the Auditors' remuneration.	307,385,471	100.00%	Nil	Nil	Nil	307,385,471	52.24%
5.	Resolution 5a: To approve the appointment of the following Directors:
	5(a)(i): To approve the appointment of Mr. Christopher Okeke as a Director of the Company;	307,435,672	100.00%	Nil	Nil	Nil	307,435,672	52.25%
	5(a)(ii): To approve the appointment of Mr. Udoma Udo Udoma as a Director of the Company;	307,430,566	100.00%	Nil	Nil	Nil	307,430,566	52.24%
	5(a)(iii): To approve the appointment of Mr. Babs Omotowa as a Director of the Company;	307,382,294	100.00%	Nil	Nil	Nil	307,382,294	52.24%
	5(a)(iv): To approve the appointment of Mrs. Eleanor Adaralegbe as an Executive Director of the Company;	307,377,298	99.99%	100	0.00%	Nil	307,377,398	52.24%
	Resolution 5b: To re-elect the following Directors who are eligible for retirement by rotation
	5(b)(i): To re-appoint Dr. Emma FitzGerald as a Director of the Company;	307,427,553	100.00%	Nil	Nil	Nil	307,427,553	52.24%
	5(b)(ii): To re-appoint Mrs. Bashirat Odunewu as a Director of the Company;	307,430,544	100.00%	Nil	Nil	Nil	307,430,544	52.24%
6.	Resolution 6: To disclose the remuneration of managers of the Company.	Noted by Shareholders
7	Resolution 7: To elect the shareholder representatives of the Statutory Audit Committee (Please see note 7).	This was done by electronic voting to represent show of hands in line with the section 249(3) of the Companies and Allied Matters Act 2020 provisions. Members of the Statutory Audit Committee comprising three (3) Shareholders elected representatives and two (2) Board nominated representatives were approved as follows: (a) Mr. Abayomi Adeyemi (Shareholder Representative); (b) Mrs Hauwa Umar (Shareholder Representative); (c) Mr. Nornah Awoh (Shareholder Representative); (d) Mrs. Bashirat Odunewu (Board Representative); and (e) Mr. Kazeem Raimi (Board Representative).
8	Resolution 8: To approve the Remuneration Section of the Directors' Remuneration Report set out in the Annual Report and Accounts for the year ended 31 December 2023 (including the forward-looking Remuneration Policy).	307,423,469	100.00%	Nil	Nil	Nil	307,423,469	52.24%

Notes:

1.         Further to the signing into law of the Business Facilitation (Miscellaneous Provisions) Act 2022, which allows public companies to hold meetings electronically, this AGM was held virtually. The virtual meeting link for the AGM is https://www.seplatenergy.com/agm-2024/ The virtual meeting is available on the Company's website at "www.seplatenergy.com".

2.         In accordance with the Company's articles of association, on a poll every member present in person or by proxy has one vote for every share held. There were no restrictions on shareholders to cast votes on any of the resolutions proposed at the AGM.

3.         A "Vote Withheld" is not a vote in law and is not counted in the calculation of the proportion of votes "For" or "Against" any resolution nor in the calculation of the proportion of "Percentage of ISC voted" for any resolution.

4.         The percentage of votes "For" and "Against" any resolution is expressed as a percentage of votes validly cast for that resolution.

5.         In accordance with Section 401 of CAMA, 2020, the retiring Auditor shall be re-appointed without passing a resolution.

6.         In accordance with Section 257 of CAMA 2020, full details on the compensation of managers of the Company, set out on page 132 of the 2023 Annual Report was disclosed to the members at the Annual General Meeting.

7.         In accordance with Section 404 (3) to (6) of the Nigerian Companies and Allied Matters Act (CAMA) 2020, the election of the statutory Audit Committee shareholder representative members is conducted by a show of hands at the AGM rather than by poll and proxy.

8.         The Issued Share Capital ("ISC") at the time of the Annual General Meeting was 588,444,561 shares denominated in Naira of 50 kobo per share.  The proportion of "Percentage of ISC voted" for any resolution is the total of votes "For" and "Against" in respect of that resolution expressed as a percentage of the ISC.

9.         In accordance with LR 9.6.2, copies of the relevant ordinary and special resolutions passed at the meeting have been submitted to the FCA's National Storage Mechanism and will shortly be available to view at http://www.morningstar.co.uk/uk/NSM. The full text of the resolutions passed at the Annual General Meeting can be found in the Notice of Annual General Meeting, which is available for inspection at the National Storage Mechanism and also on the Company's website at http://www.seplatenergy.com.

- Ends -

Mrs. Edith Onwuchekwa

Director, Legal/Company Secretary

FOR: SEPLAT ENERGY PLC.

Enquiries

Seplat Energy Plc	[phone]
Eleanor Adaralegbe, CFO Designate Edith Onwuchekwa, Director Legal /Company Secretary James Thompson, Head of Investor Relations
Chioma Afe, Director, External Affairs and Social Performance
FTI Consulting
Ben Brewerton / Chris Laing	[phone]
	[e-mail]

Notes to editors

Seplat Energy PLC is Nigeria's leading indigenous energy company. It is listed on the Premium Board of the Nigerian Exchange (NGX: SEPLAT) and the Main Market of the London Stock Exchange (LSE: SEPL). Seplat Energy is pursuing a Nigeria-focused growth strategy and is well positioned to participate in future asset divestments by international oil companies, farm-in opportunities, and future licensing rounds. The Company is a leading supplier of gas to the domestic power generation market. For further information please refer to the Company website, https://seplatenergy.com/

 

END