Tony Elumelu Acquires 6m More Seplat Shares

Tony Elumelu, Chairman of Heirs Holdings, has acquired an additional six million shares in Seplat Energy Plc valued at £53.2 million. According to a notification filed with the Nigerian Exchange Limited, the shares were purchased by Heirs Energies Limited, a company controlled by Elumelu, at £8.87 per share in a transaction conducted in London on September 30, 2026. Following the acquisition, Heirs Energies’ direct holding in Seplat rose to 27,943,867 shares.

The filing stated that Heirs Energies and Heirs Holdings Limited, both controlled by Elumelu, now jointly hold 126.4 million Seplat shares, representing a 21.07 percent voting interest based on the company’s 599,944,561 issued shares. The two companies had previously acquired 120.4 million shares from Maurel & Prom in December 2025. The latest purchase comes ahead of Elumelu’s planned appointment as Seplat’s chairman. In June, Seplat announced that its current chairman, Udoma Udo Udoma, would retire on December 31, 2026, with Elumelu elected to succeed him from January 1, 2027. The company said the latest transaction was disclosed in line with applicable NGX and UK market abuse disclosure rules.

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