Chairman of Heirs Holdings, Tony Elumelu has acquired an additional six million shares in Seplat Energy Plc for £53.2 million.
On Wednesday, a notification was filed with the Nigerian Exchange Limited (NGX), the shares were bought by Heirs Energies Limited, a company controlled by Elumelu.
The notice which was filed said the billionaire acquired shares at £8.87 each in a transaction conducted in London on the 30th of September, 2026.
Following the transaction, Heirs Energies’ direct holding in Seplat increased to 27,943,867 shares.
The filing said Heirs Energies and Heirs Holdings Limited, both controlled by Elumelu, currently hold a total of 126.4 million shares in Seplat, representing a 21.07 percent voting interest based on the company’s 599,944,561 issued shares.
Heirs Energies and Heirs Holdings had acquired 120.4 million shares from Maurel & Prom in December 2025.
The acquisition comes just before Elumelu is set to take over as chairman of Seplat.
In June, Seplat announced that its current chairman, Udoma Udo Udoma, would retire on December 31, 2026, with Elumelu elected to step into his office from January 1, 2027.
Elumelu joined Seplat’s board as a non-executive director in January 2026.
In its filings, the company said the deal was announced in compliance with Rule 17.15(c) of the 2015 NGX Rulebook on disclosure of share dealings and Article 19(3) of the UK Market Abuse Regulation.