Seplat
Seplat

By  Cynthia Alo

Seplat Energy Plc has recorded a profit before deferred tax (PBT) of $62.1million for the first half year 2021, H1’2, representing an increase of 142.7percent against H1’20.  Highlights of the company’s financial results for the period further show that revenue went up 32percent to $308.8 million in H1’21, from $233.5million in H1’20; earnings before interest, taxes, depreciation, and amortization (EBITDA) of $178.9 million; cash generated from operations ($125.8 million); cash at bank ($298.8 million) and net debt of $456.4 million.

With the impressive results, the company has declared an interim dividend at a rate of US2.5 cents per Ordinary Share, subject to appropriate withholding tax (WHT), to be paid to Seplat Energy’s shareholders whose names appear in the Register of Members as at the close of business on August 12, 2021.

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To enable Seplat’s Registrar, Datamax Registrars Limited, prepare for the payment of the interim dividend, the Register of Shareholders will be closed on August 13, 2021.

The Qualification Date is at the Close of Business on August 12, 2021. Note that on the London Stock Exchange: The Associated Record Date will be August 12, 2021 and the Ex-Dividend date will be August 11, 2021.

  Seplat said in the corporate action announcement that the exchange rate for the Naira or Pounds Sterling amounts payable to shareholders will be determined by reference to the relevant exchange rates applicable to the US dollar on August 11and will be communicated by the Company on August 12.

Shareholders holding their shares on the Nigerian Exchange Limited without a valid Nigerian Certificate for Capital Importation (CCI) will be paid their dividend in Naira as the default currency. Shareholders holding their shares on the Nigerian Exchange Limited with a valid CCI will be paid their dividend in US dollars as the default currency.

  “However, those shareholders may instead elect to receive their entire dividend payment in Naira (partial elections are not permissible).

“Evidence of the CCI must be provided to Datamax Registrars Limited; and shareholders holding their shares through depository interests on the London Stock Exchange will be paid their dividend in US dollars as the default currency.

“However, those shareholders may instead elect to receive their entire dividend payment in pounds sterling. Partial elections are not permissible”, Seplat said in a July 29 notice signed by Emeka Onwuka Chief Financial Officer.

“Shareholders who have a dividend currency option, must make the election to the Company’s Registrars by August 27, 2021, otherwise the dividend will be paid in the default currency. 

The election form will be sent out to the relevant shareholders and can also be found on the Company website. Those shareholders holding their shares on the Nigerian Exchange Limited who hold a valid CCI should notify SEPLAT’s Nigerian Registrars, DataMax Registrars Limited (DataMax), of that fact”, the company further said.

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