AUSTIN AVURU CEO

Seplat’s Austin transfers shareholding to Professional Support Limited

Seplat Petroleum Development Company says that its Chief Executive Officer, Austin Avuru, has transferred shares registered in his name to Professional Support Limited. Seplat notifies the market today.

According to Seplat, the company said it received notification on 3 September 2019 of a transfer of 904,717 ordinary shares held directly by Austin Avuru, the CEO of the Company, to Professional Support Limited, an entity wholly controlled by Mr. Avuru.

The company said that the transaction has not resulted in a change in beneficial ownership, which remains at 12.19%.

Hence, the 12.19% shareholding is to be managed by both Professional Support which holds 31,068,211 shares or 5.28% and Platform Petroleum holdings of 40,659,695 shares or 6.91%, based on the Issued Share Capital of 588,444,561.

Mr. Avuru now holds nil direct interest and an indirect interest of 71,727,906 ordinary shares of N0.50k each of the Company.

Seplat’s Austin transfers shareholding to Professional Support Limited

Seplat Petroleum Development Company says that its Chief Executive Officer, Austin Avuru, has transferred shares registered in his name to Professional Support Limited. Seplat notifies the market today.

According to Seplat, the company said it received notification on 3 September 2019 of a transfer of 904,717 ordinary shares held directly by Austin Avuru, the CEO of the Company, to Professional Support Limited, an entity wholly controlled by Mr. Avuru.

The company said that the transaction has not resulted in a change in beneficial ownership, which remains at 12.19%.

Hence, the 12.19% shareholding is to be managed by both Professional Support which holds 31,068,211 shares or 5.28% and Platform Petroleum holdings of 40,659,695 shares or 6.91%, based on the Issued Share Capital of 588,444,561.

Mr. Avuru now holds nil direct interest and an indirect interest of 71,727,906 ordinary shares of N0.50k each of the Company.

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