Following analysis against each of the six Terms of Reference established by the South Australian Government (see attached), Santos strongly endorses full removal of the 15% shareholding cap. Specifically, Santos believes that:
"Santos' Board and management strongly believe that the shareholding cap should be removed as it acts as an impediment to Santos realizing its full growth potential. Removal would deliver significant benefits to the company and by extension the South Australian economy," said Santos' Managing Director, Mr. John Ellice-Flint.
"Santos is a proud South Australian company that is committed to growing its presence in the state, a commitment demonstrated in April when the company moved into a new purpose-built Adelaide head office," he added.
The South Australian Government has indicated that it expects to complete its internal review by July 31, 2007 and for the Government to announce its intentions within two months of finalizing the review.
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