Heirs Energies Limited, an indigenous energy company chaired by billionaire investor and Non-Executive Director, Tony Elumelu, has consolidated its position as a major shareholder in Seplat Energy Plc following a fresh multimillion-pound equity purchase on the London Stock Exchange.
The acquisition highlights growing investor interest and confidence in Nigeria’s energy sector, particularly among domestic institutional investors expanding their footprints across dual-listed entities trading in Lagos and London.
According to an official corporate disclosure released to the Nigerian Exchange Limited and the London Stock Exchange, Heirs Energies Limited acquired 6,000,000 ordinary shares in Seplat Energy Plc on Wednesday, September 30, 2026.
The transaction, executed at a unit price of £8.87 per share, brings the energy firm’s direct holding in Seplat to 27,943,867 ordinary shares.
When combined with the existing holdings of Heirs Holdings Limited, another investment vehicle controlled by Elumelu, entities affiliated with the business mogul now control an aggregate of 126,400,000 ordinary shares. This brings Elumelu’s total combined voting interest to 21.07 per cent of the company’s 599,944,561 issued ordinary shares.
Confirming the mandatory insider transaction details in line with international capital market standards, the Director of Legal and Company Secretary at Seplat Energy Plc stated, “This notification is made in accordance with Rule 17.15(c) Disclosure of Dealings in Issuers’ Shares, Rulebook of The Exchange, 2015 (Issuers’ Rule) and Article 19(3) of the UK Market Abuse Regulations”.
The strategic expansion comes at a pivotal period for Seplat Energy Plc, one of Nigeria’s leading independent oil and gas producers, as indigenous operators increasingly step up to drive energy security and asset optimisation amid ongoing portfolio realignments by international oil companies across the Niger Delta basin. The formal filing was signed on behalf of Seplat Energy Plc by Mrs Edith Onwuchekwa, who served as the duly authorised officer responsible for submitting the regulatory notice.
