Santos has now listed its new shares on the Papua New Guinea stock exchange (PNGX) after its merger with Oil Search became effective on Friday 10 December.
Shares have commenced trading on a deferred settlement basis under the code ‘STODA’. Normal settlement trading of Santos’ shares on the PNGX, under code STO, is expected to commence on 20 December 2021.
Oil Search has now been delisted and its shares removed from the ASX, with new Santos shares traded for the first time in Sydney since the merger took effect.
According to a statement from the company, the merger is expected to support the development of key projects in PNG, delivering new jobs, helping to support the local economy, and continuing to support the development of and investment in the area.
Santos has also announced a new chief financial officer, advising that deputy chief financial officer Anthea McKinnell will succeed Anthony Neilson in the role.
McKinnell’s term will commence 1 January 2022, and Neilson will stay with the company as the chief commercial officer based in Sydney, where he will play a key role in overseeing the transition of the Oil Search business.
Santos managing director and chief executive officer Kevin Gallagher said Neilson and McKinnell would begin a handover immediately.
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