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Summary

Santos advises that it will not be putting the proposed resolution to the AGM

On Thursday 3 March 2016, Santos received a notice requesting a resolution for consideration at the Company’s Annual General Meeting on 4 May 2016. Of the 104 signatories, 98 have been verified as shareholders, representing approximately 0.019% of the Company’s shares on issue. A copy of the notice is attached.

Santos advises that it will not be putting the proposed resolution to the AGM for the following reasons:

  • the requisition fails to satisfy the requirements of section 249N of the Corporations Act;
  • a similar resolution was the subject of extensive debate at the 2014 AGM and overwhelmingly rejected by shareholders with 99.2% of the vote cast against the resolution; and
  • the proposed resolution would not have been a legally binding resolution and the Board would not have been required to include it on the AGM agenda.

Ends.