Seplat Energy issues executive share awards and sees Sustainable Capital exit

Seplat Energy PLC has announced two major developments regarding its share structure and leadership incentives. The company has granted share awards to three key executive directors—CEO Effiong Okon, COO Samson Ezugworie, and CFO Eleanor Adaralegbe—under its 2024 Long Term Incentive Plan (LTIP) and as deferred shares from the 2025 annual bonus. The LTIP awards are performance-linked and subject to a three-year vesting period and a subsequent two-year holding period.

In a separate regulatory development, Sustainable Capital Limited has completely exited its position in Seplat Energy. After previously reducing its stake from 10.01% to 6.18%, the firm sold its remaining 36.7 million shares. This transaction has reduced Sustainable Capital’s voting rights in the energy company from 6.18% to zero.