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$4.04 oil search limited

Ann: Trading Halt, page-63

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brahms

2,892 Posts.

237

08/04/20

06:55

Post #: 43939904
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Originally posted by SilentPartnr: ↑

◊ Up to US$700m (A$1,160m) equity raising including:
♦ Approximately A$760m underwritten institutional placement (“Placement”
♦ Up to A$400m accelerated non-renounceable entitlement offer (“Entitlement Offer” at a ratio of 1 for 8, comprising: • An underwritten accelerated institutional component (“Institutional Entitlement Offer”; and • A non-underwritten retail component (“Retail Entitlement Offer”1); and
♦ A non-underwritten PNG offer for eligible PNG shareholders (“PNG Retail Offer”2) on substantially the same terms as the Entitlement Offer
◊ Approximately 552 million3 new ordinary shares (“New Shares” to be issued (representing 36.2% of Oil Search’s existing shares on issue)

Therefore, about 20% dilution from the A$760m institutional placement.

Regards

SP

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yes.
8 existing + 36.2% (taking your figure) = 10.896
9 (what we get) / 10.896 × 100 = 82.6%
So 17.4% dilution.

OSH Price at posting: $2.73 Sentiment: Hold Disclosure: Held
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0 Great analysis

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