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Oil Search Scheme Meeting

Proposed acquisition of Oil Search Limited by Santos Limited by way of Scheme of Arrangement

On 10 September 2021, Oil Search Limited (Oil Search) and Santos Limited (Santos) announced that they had entered into a Merger Implementation Deed in relation to a proposed all-scrip merger of the two companies (the Merger). The Merger is to be effected by a scheme of arrangement under PNG law under which Santos will acquire all of the shares in Oil Search in return for the issue of new Santos shares (the New Santos Shares) to Oil Search shareholders (the Scheme) at a ratio of 0.6275 New Santos Shares for each existing Oil Search share (the Scheme Consideration).

Scheme Booklet

In order for the Scheme to proceed, it must be approved at a meeting of Oil Search shareholders (the Scheme Meeting), and then by the PNG Court. A Scheme Booklet has been prepared, which provides Oil Search shareholders with information about the proposed acquisition of Oil Search by Santos, for the purposes of voting on the Scheme at the Scheme Meeting (Scheme Booklet). The Scheme Booklet includes the Independent Expert's Report and the Notice of the Scheme Meeting.

The Scheme Booklet contains important information in relation to the Scheme, and you are encouraged to access it online below.

Click to view the Scheme Booklet

Oil Search Scheme Meeting

Meeting Date and Location
  • Date and time: Tuesday, 7 December 2021 at 11:00am (Sydney time) / 10:00am (Port Moresby time)
  • Location: Online webcast and teleconference

As a result of the potential health risks associated with large gatherings and the ongoing COVID-19 pandemic, the Scheme Meeting will be held virtually through an online platform. The health of Oil Search shareholders, employees and other meeting attendees is of paramount importance, and therefore, shareholders and their proxies, attorneys or corporate representatives will not be able to attend in person.

To lodge a proxy before the meeting date

If you wish to appoint a proxy or you are unable to attend the online Scheme Meeting, you are encouraged to appoint one or two proxies to attend and vote online on your behalf. You may either complete the personalised proxy form (which was sent to you via email or, where you have not previously provided an email for communications from Oil Search, post, in the form set out below) or lodge your proxy online at www.investorvote.com.au so that it is received by no later than by 11.00am (Sydney time) / 10.00am (Port Moresby time) on Sunday, 5 December 2021.

Click to view the Proxy nomination form

To participate on the meeting date

Click here to attend and vote in real time at the meeting on your smartphone, tablet or computer.

The meeting ID for the Scheme Meeting is: 399778470.

Your username is your SRN/HIN.

Online voting will open between the start of the Scheme Meeting and the closing of voting as announced by the Chair during the Scheme Meeting.

Your password is the postcode of your registered address for your holding if you are an Australian shareholder. If you are an overseas shareholder, your password is your three-character country code. For example, Papua New Guinea (PNG), United Kingdom (GBR), United States of America (USA) and Canada (CAN).

Please refer to the Virtual Meeting Guide (which has been released to the ASX and PNGX) and is available at www.computershare.com.au/virtualmeetingguide.

Contact Information

Investor Contact Information

If you have any questions in relation to the Scheme Booklet or the Scheme, please contact the Oil Search Shareholder Information Line on 1300 150 530 (within Australia) or +61 2 9066 4081 (outside Australia), Monday to Friday between 9.00am and 5.00pm (Sydney time) other than public holidays in Sydney, Australia.

If you are not able to access the Oil Search Shareholder Information Line you can request a call back from oilsearchmerger@investorinfo.net.au

Further updates in relation to the Scheme will be announced to the ASX and PNGX and will be available under Oil Search's profile on the ASX (www.asx.com.au) or PNGX
(http://www.pngx.com.pg/) websites.

Media Contact Information

Please direct all media enquiries to Ian Pemberton via phone on +61 402 256 567 or email to ian.pemberton@plcorporate.com.au