TIDMSEPL
RNS Number : 6892E
Seplat Energy PLC
09 July 2021
Seplat Energy Plc ("Seplat Energy" or the "Company")
Corporate Announcement on the Retirement of Two Board Directors
and Appointment of Two Board Directors
Lagos and London - 9(th) July 2021: The Board of Directors and
Management of Seplat Energy Plc today announces that Mr. Damian
Dodo, SAN, and Lord Mark Malloch-Brown, both Independent
Non-Executive Directors ("INED"), have retired from the Board of
the Company. Mr. Dodo, SAN was appointed to the Board in March 2014
while Lord Malloch-Brown was appointed in February 2014. For the
past seven years, both Directors diligently served the Board and
made significant contributions towards the growth of the Company
during their tenure.
Commenting on the retirement of the Directors, the Chairman of
the Board remarked as follows:
"Seplat Energy was very privileged to have had such seasoned
intellectuals who made significant contributions to the growth of
the Company. We remain grateful to Mr. Dodo, SAN and Lord
Malloch-Brown for sharing their wealth of knowledge and vast
experiences with the Board and the Company and we wish them the
best in their future endeavors".
Additionally, the Board of Directors and Management of Seplat
Energy Plc is delighted to announce the appointment of Prof. Fabian
Ajogwu and Mr. Bello Rabiu as Independent Non-Executive Directors
of the Company, joining the Seplat Board with effect from
today.
Prof. Fabian Ajogwu is a Senior Advocate of Nigeria and Lagos
Business School Professor of Corporate Governance. He is an Alumnus
of the Said Business School of Oxford University, and an Alumnus of
the Lagos Business School. Professor Ajogwu holds a doctorate in
Law from University of Aberdeen, Scotland; an MBA from the IESE
Business School, University of Navarra, Barcelona; and Law degrees
from the University of Nigeria, and the University of Lagos.
Professor Ajogwu is a Fellow and Director of the Society for
Corporate Governance Nigeria; a Fellow of the Nigerian Institute of
Chartered Arbitrators, Fellow of the African Leadership Initiative
West Africa, Henry Crown Global Leadership of the Aspen Institute
(2009 Class set), Fellow of the AIFA Reading Society, Fellow of the
Society for Art Collection, a member of the Oxford Philosophical
Society, and a member of the Royal Institute of Philosophy,
London
Professor Ajogwu assisted the Securities and Exchange Commission
in drafting Nigeria's pioneer Code of Corporate Governance from
2001 to 2003. He chaired the Nigerian Communications Commission
Committee on Corporate Governance between 2013 and 2014 that
produced the pioneer NCC Code of Corporate Governance for the
Telecommunication sector. He served on the Financial Reporting
Council of Nigeria Committee on the 2018 National Code of Corporate
Governance. He chairs the Body of Senior Advocates of Nigeria
Committee on Continuing Legal Education.
Mr. Bello Rabiu holds a Bachelor's and Master's Degrees in
Mathematical Statistics from Ahmadu Bello University Zaria, Nigeria
and another Master's Degree in Petroleum Engineering from The
Imperial College, London, United Kingdom. He attended many career
advancements courses in Nigeria and abroad including the
prestigious Wharton Executive Development Program from the
University of Pennsylvania in Philadelphia, USA and Leading Global
Business Program from Harvard Business School, Boston, USA.
Before his new role at Dankiri Farms, Mr. Rabiu retired from the
services of Nigerian National Petroleum Corporation (NNPC) in July
2019 after 28 years of service. He retired from NNPC as the Chief
Operating Officer/Group Executive Director, Upstream Business Unit.
Prior to his appointment as COO/GED Upstream, NNPC. Mr. Rabiu held
dual positions of Group General Manager, Corporate Planning &
Strategy Division and Senior Technical Assistant to Group Managing
Director, NNPC. He was also the General Manager, Competitive
Analysis Department of the same Division from September 2010 till
August 11(th) , 2015. He was at various times between 1991 and 2005
a planning officer and Pioneer Head, Material Management, Frontier
Exploration Services at the National Petroleum Investment
Management Services (NAPIMS) Division of NNPC.
Mr. Rabiu has a balanced knowledge of the Exploration &
Production industry in Nigeria. He has the unusual capability which
combines commercial/fiscal knowledge with operations. This was
particularly valuable in the development of the recently approved
upstream Joint Venture funding scheme which has restored the
confidence of the International Oil Companies (IOCs) Partners and
the implementation of the 7 Critical Gas Development Projects, an
offshoot of Nigerian Gas Master Plan aimed at using gas for
Nigeria's industrialization, economic growth and development -
where significant consideration had to be given to strategic
intent, fiscal rules and commerciality of supply.
Commenting on the appointments, Dr. A. B. C. Orjiako, Chairman
of SEPLAT Energy stated as follows:
"The Board of SEPLAT Energy is pleased to welcome, Prof. Ajogwu
and Mr. Rabiu. These two prominent intellectuals bring vast
knowledge in important areas such as the energy sector, corporate
and business governance, industry regulation, and capital markets.
SEPLAT Energy looks forward to the immense contribution they will
make towards its continuing global success."
In line with the corporate governance principle of refreshing
the Board intermittently through an appropriate balance of skills
and diversity, it is hereby stated that the search for the
replacement for Lord Mark Malloch-Brown is still ongoing and would
be announced in due course.
This announcement is being made in accordance with Rule 4 of the
Nigerian Exchange Limited Amended Listing Rules and Rule 9.6.11 of
the UK Listing Rules.
- ENDS -
For: Seplat Energy Plc
MRS. EDITH ONWUCHEKWA
Director, Legal and Company Secretary
Enquiries:
Seplat Energy Plc
Emeka Onwuka, CFO +234 (01) 277 0400
Chioma Nwachuku, Director, External Affairs and
Communications
Edith Onwuchekwa, Director, Legal and Company Secretary
FTI Consulting
Ben Brewerton / Sara Powell +44 (0) 203 727 1000
seplat@fticonsulting.com
Notes to editors
Seplat Energy Plc is a leading indigenous Nigerian energy
company with a strategic focus on Nigeria, listed on the Main
Market of the London Stock Exchange ("LSE") (LSE:SEPL) and Nigerian
Exchange Limited ("NGX") (NGX:SEPLAT). Seplat is pursuing a Nigeria
focused growth strategy and is well-positioned to participate in
future divestment programmes by the international oil companies,
farm-in opportunities and future licensing rounds. For further
information please refer to the company website,
http://seplatpetroleum.com/
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