10 December, 2021
JMP Markets – Market Alert
PNGX Announcement – PNGX Markets release Trading in Oil Search Limited on 10 December 2021.
Please find attached PNGX Markets release Trading in Oil Search Limited on 10 December 2021.
Oil Search Limited (code: OSH) has announced that the National Court of Justice of PNG has made orders approving the proposed scheme of arrangement for Santos to acquire all of the shares in Oil Search in return for the issue of new Santos shares to Oil Search shareholder (the “Scheme”). Under the scheme, Santos will issue new Santos shares (the New Santos Shares) to Oil Search shareholders at a ratio of 0.6275 New Santos Shares for each existing Oil Search share (the Scheme Consideration).
The record date of the scheme for determining entitlements to receive the Scheme consideration is expected at 6:00 pm (Port Moresby time) Tuesday 14 December 2021.
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JMP Securities Limited
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