The board of Seplat Petroleum Development Company, on Tuesday notified the Nigerian Stock Exchange (NSE) that one of its shareholders on the London Stock Exchange (LSE) – Sustainable Capital Africa Alpha Fund has crossed the 5% threshold of having major holding.

A statement by the Company Secretary/Chief Governance Compliance Officer, Mrs. Edith Onwuchekwa, noted that Sustainable Capital Africa Alpha Fund dealth in Seplat shares and now holds a direct interest of 30,071,128 units, representing 5.11% of its 588,444,561 shares.

According to the notification “made in accordance with Rule 12 of the Amendments to the Listing Rules of the Nigerian Stock Exchange and Article 19 of the EU Market Abuse Regulations,” the shareholder which previously held 4.11% voting right, crossed the threshold on June 11, while Seplat was notified a day after.

Sustainable Capital Africa Alpha Fund has as registered office: 10 Quartier Des Terminalias, Domaine De Labourdonnais, Mapou, Mauritius, while Maharishi Ramkorun was identified as contact person.

According to a description on its website, “Sustainable Capital is an independent, owner-managed investment manager specialized in the research and management of listed African equities.”