Following the transaction, Heirs Energies’ direct holding in Seplat increased to 27,943,867 shares. Together, Heirs Energies and Heirs Holdings now hold 126.4 million Seplat shares, representing a 21.07 per cent voting interest based on the company’s 599,944,561 issued shares.
The latest purchase comes after the two Elumelu-controlled entities acquired 120.4 million Seplat shares from Maurel & Prom in December 2025. The new acquisition further strengthens Elumelu’s position in the company ahead of his planned appointment as Seplat’s chairman.
Seplat announced in June that its current chairman, Udoma Udo Udoma, will retire on December 31, 2026, with Elumelu elected to succeed him from January 1, 2027. Elumelu joined the Seplat board as a non-executive director in January 2026.
The company said the transaction was disclosed in accordance with the Nigerian Exchange’s rules on dealings in issuers’ shares and the UK Market Abuse Regulations.
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Tony Elumelu has acquired an additional six million shares in Seplat Energy through Heirs Energies for £53.2m, increasing the combined voting interest of his companies in the energy firm to 21.07 per cent. Tony Elumelu, chairman of Heirs Holdings, has acquired an additional six million shares in Seplat Energy Plc for £53.2m through Heirs Energies Limited, a company...
Key takeaways
- Tony Elumelu has acquired an additional six million shares in Seplat Energy through Heirs Energies for £53.2m, increasing the combined voting interest of his companies in the energy firm to 21.07 per cent.
- Tony Elumelu, chairman of Heirs Holdings, has acquired an additional six million shares in Seplat Energy Plc for £53.2m through Heirs Energies Limited, a company controlled by him.
- The shares were purchased at £8.87 each in a transaction executed in London on September 30, 2026.
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What is this story about?
Tony Elumelu has acquired an additional six million shares in Seplat Energy through Heirs Energies for £53.2m, increasing the combined voting interest of his companies in the energy firm to 21.07 per cent. Tony Elumelu, chairman of Heirs Holdings, has acquired an additional six million shares in Seplat Energy Plc for £53.2m through Heirs Energies Limited, a company...
Who published this story?
Glow 99.1 FM published this story with GlowRy Atuah listed as author.
When was it published?
October 5, 2026
