Heirs Energies Limited, the indigenous energy firm chaired by billionaire investor and Non-Executive Director Tony Elumelu, has expanded its shareholding in Seplat Energy Plc after acquiring an additional six million ordinary shares on the London Stock Exchange.
The latest purchase further increases the stake held by companies associated with Elumelu in Seplat Energy, while highlighting the growing participation of Nigerian investors in companies with listings on both the Nigerian and London stock exchanges.
A corporate disclosure submitted to the Nigerian Exchange Limited and the London Stock Exchange revealed that Heirs Energies purchased 6,000,000 ordinary shares in Seplat Energy on Wednesday, September 30, 2026.
The shares were acquired at £8.87 per unit, increasing Heirs Energies’ direct holding in the oil and gas company to 27,943,867 ordinary shares.
When the company’s holding is combined with the shares owned by Heirs Holdings Limited, an investment vehicle also controlled by Elumelu, the entities linked to the businessman now have a total of 126,400,000 ordinary shares in Seplat Energy.
The combined shareholding gives the Elumelu-linked entities a 21.07 per cent voting interest in Seplat Energy, whose issued ordinary shares stand at 599,944,561.
The share purchase was formally reported under the applicable capital market rules governing transactions involving directors and related parties.
According to Seplat Energy’s regulatory notification, the company’s Director of Legal and Company Secretary said the disclosure was made pursuant to Rule 17.15(c), which covers dealings in issuers’ shares under The Exchange Rulebook, 2015, and Article 19(3) of the UK Market Abuse Regulations.
The increased stake comes as Seplat Energy maintains its position as one of Nigeria’s leading independent oil and gas producers. It also comes amid a growing role for indigenous energy companies in supporting the country’s energy industry.
The regulatory notification was signed by Mrs Edith Onwuchekwa, the duly authorised officer who submitted the disclosure on behalf of Seplat Energy Plc.
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