Multi-billionaire entrepreneur and Chairman of United Bank for Africa (UBA) Plc, Mr. Tony Elumelu, is expected to be formally elected to the board of Seplat Energy Plc as a Non-Executive Director on Wednesday, May 20, 2026, as shareholders gather virtually for the company’s 13th Annual General Meeting (AGM).
According to Seplat Energy’s Notice of Annual General Meeting filed with the Nigerian Exchange (NGX), the election of Elumelu is one of the key resolutions to be considered at the meeting scheduled for 11:00am.
The company confirmed that shareholders will deliberate on his appointment alongside other major corporate governance and financial matters affecting the oil and gas group.
Elumelu’s expected election follows Heirs Energies’ landmark acquisition of a 20.07 per cent stake in Seplat Energy through a $500 million transaction, a deal that positioned the company as the single largest shareholder in the dual-listed energy firm.
At the AGM, shareholders are also expected to consider the audited financial statements for the year ended December 31, 2025, as well as the declaration of a final dividend for the period under review.
The meeting will further deliberate on the re-appointment of PricewaterhouseCoopers (PwC) as external auditors, alongside other routine governance resolutions, in line with regulatory requirements governing listed companies on the NGX and London Stock Exchange.
The AGM will be held virtually, reflecting the provisions of Nigeria’s Business Facilitation (Miscellaneous Provisions) Act 2022, which allows public companies to conduct general meetings electronically to improve shareholder participation and transparency.
Boluwatife Enome
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