Wednesday 18/1/17 Australian had article by G.Korporaal headlined "Santos strategy at issue"
She mentions a report by Citi with concerns about -
"on what could be going wrong with Gladstone LNG, credit ratings, cost-out targets and concern that the outlook is not as great as we had thought"
All valid concerns
To put the SPP to debt reduction is not forward looking
Other companies put SPP proceeds to growth projects
I would be more interested in the spp if it had free attaching options. You buy a 1000 shares and you get 1000 free call options at a reasonable strike price. That way if santos performs we would exercise the options and santos would get more money. They are generous with options to their management but why not shareholders.
Ann: Santos launches Share Purchase Plan Offer, page-54
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