Shareholders of Seplat Energy Plc have approved all resolutions presented at the company’s 13th Annual General Meeting, endorsing dividend payments, board appointments and key governance measures as the indigenous energy producer consolidated investor confidence amid its expansion drive.
The company disclosed on Thursday that all resolutions tabled at the virtual AGM held on May 20 were passed by the required majority of shareholders through poll voting and proxy submissions.
Among the major approvals was the adoption of Seplat Energy’s audited financial statements for the year ended December 31, 2025, alongside the reports of directors, auditors and the statutory audit committee. The resolution secured 411.67 million votes in favour, representing 99.99 per cent of votes cast.
Shareholders also approved the company’s proposed final dividend for the 2025 financial year, with 412.23 million shares voting in support of the payout.
The meeting further endorsed the continued appointment of PricewaterhouseCoopers as external auditors of the company until the next annual general meeting, in line with provisions of the Companies and Allied Matters Act (CAMA) 2020.
Investors equally authorised the board to determine the remuneration of the auditors.
In board-related resolutions, shareholders approved the appointment of Larry Ettah as an Independent Non-Executive Director and Tony Elumelu as a Non-Executive Director of the company.
Existing board members Udoma Udo Udoma and Christopher Okeke were also re-elected as Independent Non-Executive Directors.
Voting results showed overwhelming shareholder backing for the appointments, with each resolution attracting approval rates exceeding 99.9 per cent of valid votes cast.
Seplat said details of management remuneration contained in its 2025 annual report were formally disclosed to shareholders during the meeting in compliance with Section 257 of CAMA 2020.
The company also confirmed the composition of its statutory audit committee following the automatic election of three shareholder nominees for available positions on the committee.
The approved shareholder representatives are Abayomi Adeyemi, Hauwa Umar and Nornah Awoh, while Bashirat Odunewu and Kazeem Raimi will serve as board representatives.
According to the company, the AGM was conducted virtually in line with provisions of the Business Facilitation Act 2022, which permits public companies in Nigeria to hold electronic meetings.
Seplat disclosed that its issued share capital at the time of the meeting stood at 599.94 million ordinary shares of 50 kobo each, with voting participation across resolutions averaging about 68 per cent of issued share capital.
The company, which is listed on both the Nigerian Exchange Limited and the London Stock Exchange, said copies of the resolutions had been submitted to the UK Financial Conduct Authority’s National Storage Mechanism in compliance with listing requirements.
Seplat Energy remains one of Nigeria’s largest indigenous oil and gas producers, with assets spanning onshore and shallow-water operations in the Niger Delta. Its portfolio includes multiple petroleum mining leases and gas processing facilities supplying the domestic power generation market.
The company has continued to position natural gas as a central pillar of its transition strategy while expanding production capacity and strengthening export infrastructure across its upstream operations.