Continuing with questions, APA's Chairman said that one only needs to look at what's going on in Europe to understand why one needs a smooth transition in terms of energy sources. The Chairman said that his personal view was that if there were rising prices, through a lesser role for gas, public support would be lost. Gas has a most important role.
With the fall in the APA share price, existing shareholders may be further diluted, a holder suggested. The Chairman said that APA's due diligence was comprehensive, and to answer the question would be speculative.
With the APA offer for AST, it's approximately 70 per cent cash and 30 per cent scrip, but AST securityholders will be able to change according to their personal requirements, subject to the overall mix being maintained.
LPG import terminals are an expensive solution for Australia.
Ann: Notice of Annual Meeting and Proxy Form, page-4
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