Heirs Energies Limited, a company controlled by Nigerian billionaire businessman Tony Elumelu, has acquired an additional six million shares in Seplat Energy Plc in a transaction valued at £53.2 million, raising the combined shareholding of Elumelu’s investment vehicles in the energy company to 21.07 per cent.
According to a statement filed with the Nigerian Exchange Limited (NGX), the shares were acquired at £8.87 apiece in a transaction conducted in London on September 30, 2026.
The statement, signed by Edith Onwuchekwa, Director, Legal/Company Secretary of Seplat, disclosed that the latest purchase increased Heirs Energies’ direct holding in the company to 27,943,867 shares.
It added that Heirs Energies and Heirs Holdings Limited, both controlled by Elumelu, now jointly hold 126.4 million shares in Seplat, representing a 21.07 per cent voting interest based on the company’s 599,944,561 issued shares.
The latest acquisition follows the purchase of 120.4 million Seplat shares from Maurel & Prom by Heirs Energies and Heirs Holdings in December 2025.
The transaction also comes ahead of Elumelu’s scheduled appointment as chairman of Seplat.
In June 2026, Seplat announced that its incumbent chairman, Udoma Udo Udoma, would retire on December 31, 2026, with Elumelu expected to succeed him effective January 1, 2027.
Elumelu joined Seplat’s board as a non-executive director in January 2026.
In its regulatory disclosure, Seplat stated that further details of the transaction were contained in the attached notification on dealings by persons discharging managerial responsibilities and persons closely associated with them.
The company said the disclosure was made in accordance with Rule 17.15(c) of the NGX Rulebook 2015 (Issuers’ Rules), which governs disclosure of dealings in issuers’ shares, and Article 19(3) of the UK Market Abuse Regulation.
