Austin Avuru, Seplat CEO, sells shares to reduce own stake to 12.8%

Austin Avuru, the chief executive officer of Seplat Petroleum Development Company Plc., has sold some of his stakes in the company (SEPLAT) reducing his current holdings to just 12.8 percent.

In an announcement submitted via the Nigerian Stock Exchange (NSE), “Notification of Dealing in Shares by a PDMR,” the company said it was notified of the sale of 112,378 ordinary shares registered in the name of Ojunekwu Austin Avuru, the chief executive officer of the company.

The notification from the company further notes: “Following the sale, Avuru now holds a direct interest in 1,026,484 ordinary shares and an indirect interest in 74,336, 174 ordinary shares of the company totalling 75,362,658 shares which equates to a voting interest of 12.8 percent (based on Issued Share Capital of 588,444,561).”

Further details of the transaction set out in the public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them, revealed that the transaction took place in Lagos and Nigeria over a period of one month, from 1st to 31st May 2018.

The aggregated volume of 112,378 units of shares sold at an average price of N719.74 amounts to N80.9 million.

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