THE Board of Seplat Energy Plc yesterday announced the resignation of Mr. Austin Avuru, a Non-Executive Director (“NED”) from the Board of SEPLAT Energy with effect from 1st March 2022.
This was made known through the document provided to the Exchange in fulfillment of the requirement by every listed company at The Nigeria Exchange.
According to the document signed by company’s secretary and director of legal Mrs Edith Onwuchekwa, this is in line with the provisions of the Company’s Memorandum and Articles of Association.
His replacement is said to be nominated to the Board, as the Board wishes to sincerely thank Mr. Avuru for his founding role and contribution to SEPLAT Energy for the past decade.
However, the unit price of the stock yesterday closed at N1,034 an increase of 9.33 per cent from its closing figure of N945.50 on Tuesday. The stock has maintained the lead since the week began.
The stock closed the just concluded year with N650 per unit but moved up by N148 or 21.54 per cent in one month to close January 31, 2022 at N790 per share. In 25 days between January 31st and February 25th 2022, the stock has improved by another N69 or 8.73 per cent to close at N859 per share.
It would be recalled that the company last week formally made public its intention to acquire Mobil’s shallow water assets in Nigeria. Between February 25th and yesterday which is less than seven working day, the stock has continued to appreciate as investors take position to have a bite of what is in the offering.
The stock added another price increase of N175 or 20.37 per cent to close at N1,034 per share. Just yesterday alone it added N88.20 to its value. Between December 31 2021 and yesterday, the stock has increased by N384 or 59.08 per cent.
The present price of the stock placed it as the third most priced equity on the Nigerian Exchange. Nestle is the most priced equity with N1,435 per share followed by Airtel with a unit price of N1,260.
In all, investors traded 799,819 shares worth N826.806 million in just 202 deals. The market capitalization of the company stands at N608.452 billion.
