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    Wike describes Seyi Makinde as chief architect of PDP problems

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    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

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    New hope for Naira fixed income savers?

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Seplat gives notice of closed period on share dealings

Friday, 3 July 2020, 9:28 pm
in Business, Companies
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Seplat gives notice of closed period on share dealings
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In a publication signed by the Company Secretary, Seplat Petroleum Development Company Plc (NSE: SEPLAT), today announced the commencement of its closed period from Wednesday, 1st July 2020 to end on Thursday, 30th July 2020 or 24 hours after the release of its audited financial result.

The announcement is in pursuant to Clause 17.2 of the Amendments to the Listings Rule of the Nigerian Stock Exchange and in the run up to the announcement of SEPLAT’s Q2 2020 Financial Results.

In accordance with closed period rules, no Director, employee, person discharging managerial responsibility, adviser(s) of the Company and their connected persons may directly or indirectly deal in the shares of the Company in any manner during the closed period.

  • Read also; Dangote Cement Plc to commence closed period from July 8, 2020
  • Guaranty Trust Bank Plc declares closed period for H1 financial report

The drop in oil prices owing to the coronavirus pandemic is expected to take its toll on the performance of the company, and be reflected on the half year financial statement. In the first quarter ended 31st March 2020, SEPLAT reported a loss of N25.0 billion, a 336.9% drop from the N9.9 billion reported for the same period in 2019.

At the end of trading on the floor of the Nigerian Stock Exchange today, the share price of SEPLAT closed at N386.00. Analyst at Investogist have a SELL rating on the stock, with an estimated fair value between N192.25 and N230.70.

Written by;

Nnamdi M.

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