2. Further details of the transaction are set out in the attached TR-1 (Notification of Major Interest in Shares).

Transcription

1 For immediate release: 19 June, 2017 Lagos, Nigeria SEPLAT Petroleum Development Company Plc (the "Company") Notification of Major Interests in Shares On 16 June 2017, the Company was notified, pursuant to Rule 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and the UK Disclosure & Transparency Rules 5.1.2R that the transactions set out below occurred: 1. Following the sale of a portion of the shares registered in the name of Shebah Petroleum Development Company Limited actioned by Zenith Securities Limited in connection with the collateral agreement granted by Shebah Petroleum Development Company Limited to Zenith Bank plc which was previously notified by the Company on 27 May 2015, Dr. Ambrosie Bryant Chukwueloka Orjiako, who holds an indirect interest in the shares of Shebah Petroleum Development Company Limited and is the Chairman of the Company, now holds a combined direct and indirect interest in 47,251,325 ordinary shares in the Company representing approximately 8.39% of the voting rights of the Company s issued share capital. 2. Further details of the transaction are set out in the attached TR-1 (Notification of Major Interest in Shares). 3. This notification is made in accordance with Rule 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and Rules R(2) of the UK Disclosure & Transparency Rules. Dr. Mirian Kene Kachikwu Company Secretary FOR: SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC. Details of duly authorised officer of issuer responsible for making notification: Roger Brown, CFO +44 (0) Investor enquiries: Andrew Dymond, Investor Relations +44 (0)

2 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES i 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii SEPLAT Petroleum Development Company Plc 2 Reason for the notification (please tick the appropriate box or boxes): An acquisition or disposal of voting rights X An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): 3. Full name of person(s) subject to the notification obligation: iii Dr. Ambrosie Bryant Chukwueloka Orjiako 4. Full name of shareholder(s) (if different from 3.): iv Shebah Petroleum Development Company Limited 5. Date of the transaction and date on which the threshold is crossed or reached: v 6. Place of Issue Date on which issuer notified: 7. Threshold(s) that is/are crossed or vi, vii reached: Notifier was informed of the series of transactions as a result of which the threshold was crossed on 9 June, 2017 (the transactions were effected between 24 May 2017 and 9 June 2017) Lagos, Nigeria 16 June %

3 8. Notified details: A: Voting rights attached to shares Class/type of shares if possible using the ISIN CODE viii, ix Situation previous to the triggering transaction of Shares of Voting Rights of shares of voting rights % of voting rights x Direct Direct xi Indirect xii Direct Indirect NGSEPLAT ,099,592 67,099, , ,501 46,373, % 8.23% B: Qualifying Financial Instruments Type of financial instrument Expiration date xiii Exercise/ Conversion Period xiv of voting rights that may be acquired if the instrument is exercised/ converted. % of voting rights C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi Type of financial instrument Exercise price Expiration date xvii Exercise/ Conversion period xviii of voting rights instrument refers to % of voting rights xix, xx Nominal Delta Total (A+B+C) of voting rights Percentage of voting rights

4 47,251, % 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi Total disclosable direct and indirect holding for A.B.C. Orjiako: 47,251,325 (8.39%) Chain of control: Of the 47,251,325 Ordinary Shares disclosable by A.B.C. Orjiako, Shebah Petroleum Development Company Limited (Shebah), which is an entity controlled by A.B.C. Orjiako and members of his family, has beneficial ownership rights in 33,773,824 Ordinary Shares, of which 18,500,000 Ordinary Shares are held by Vitol Energy (Bermuda) Limited for the benefit of Shebah. 12,600,000 Ordinary Shares are held directly by A.B.C. Orjiako s siblings and 877,501 Ordinary Shares are held directly by A.B.C. Orjiako. Proxy Voting: 10. Name of the proxy holder: 11. of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: This disclosure has been calculated based on issued share capital amount 563,444, Contact name: Winston & Strawn London LLP (Ref: ZJA) 15. Contact telephone number:

5 Note: Annex should only be submitted to the FCA not the issuer Annex: Notification of major interests in shares xxii A: Identity of the persons or legal entity subject to the notification obligation Full name (including legal form of legal entities) Dr. Ambrosie Bryant Chukwueloka Orjiako Contact address (registered office for legal entities) c/o Winston & Strawn London LLP CityPoint One Ropemaker Street London EC2Y 9AW United Kingdom FAO: Zoe Ashcroft Phone number & Other useful information (at least legal representative for legal persons) As above B: Identity of the notifier, if applicable Full name Contact address Phone number & Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation) C: Additional information