Seplat Petroleum development company Plc ( Seplat) has announced the closing date for its operations to commence on the 29th, January,2017 and will be re-open on the 30th March,2017.
The announcement is in pursuant to Clause 17.2 of the Amendments to the Listings Rules (the “Rules”) of the Nigerian Stock Exchange (the “Exchange”), in relation to matters contained in Section 16.2 of the Rules.
In furtherance thereof, a circulated has been passed out to SEPLAT Directors, external Insiders and the whole Company on 27th January 2017: it read;
“In the run up to the announcement of the 2016 Full Year Results of SEPLAT, please be aware that a Closed Period on SEPLAT Share Dealings for the entire Company, SEPLAT Directors and SEPLAT Insiders will commence on Sunday, 29th January 2017. Therefore, you and your “Connected Persons”, as described under the SEPLAT Share Dealing Policy, are not expected to and must not trade in SEPLAT Shares from 29th January 2017 until 30th March 2017, both dates inclusive.
In accordance with the provisions of SEPLAT’s Share Dealing Policy, “Connected Persons” include:
a) the spouse;
b) children (including step-children);
c) relative who, at the relevant date, occupied the same household as the Applicable Person or Restricted Person, for at least 12 months;
d) agent or nominee, including an investment manager managing funds on behalf of the Applicable Person or Restricted Person;
e) a trust of which the Applicable Person (or Restricted Person) or any person connected to him/her (or any member of their family or any associated company) is the trustee or beneficiary (other than a trust for the purposes of an employee share scheme or a pension scheme);
f) a person in partnership with the Applicable Person (or Restricted Person) or any person connected to him/her ;
g) a legal entity in which the Applicable Person (or Restricted Person) or his/her connected person is a partner, or where a partner is a firm in which the Applicable Person or his/her connected person is a partner;
h) a company which the Applicable Person (or Restricted Person) or his/her connected person or either of their family member controls;
i) a company in which the Applicable Person (or Restricted Person) or his/her connected person is a director or senior executive who has the power to make management decisions affecting the future development and business prospects of that company; or
j) a company in which the Applicable Person (or Restricted Person) or his/her connected person controls, or can exercise, more than 20% of the voting power or are interested in at least 20% (in nominal value) of the issued shares (excluding Treasury Shares).