Oil Search recently announced a $1.16bn 1 for 8 pro rata accelerated non-renounceable entitlement offer of new shares at an offer price of A$2.10.
The proceeds of the Entitlement Offer will be used to strengthen Oil Search’s balance sheet and provide additional liquidity, so that Oil Search can withstand a prolonged period of low oil prices
The Entitlement Offer is non-renounceable and therefore your Entitlement will not be tradeable on the ASX or any other exchange, or otherwise transferable. This means if you do not take up your Entitlements you will not receive any payment or value for those Entitlements and their proportionate interest in Oil Search will be diluted.
The Retail Offer Booklet includes a personalised Entitlement and Acceptance Form. The Retail Entitlement Offer closes at 5.00pm (AEST) on Monday, 27 April 2020.
For further information, see www.oilsearch.com