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SANTOS LIMITED — Director's Dealing 2005
Mar 7, 2005
65872_rns_2005-03-07_f1f8b3ad-50d9-45bf-85c0-f6e678f7b805.pdf
Director's Dealing
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Appendix 3Y
Rule 3.19A.2
Change of Director's Interest Notice
Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.
Introduced 30/9/2001.
| Name of entity | SANTOS LTD |
|---|---|
| ABN | 80 007 550 923 |
We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.
| Name of Director | JOHN CHARLES ELLICE-FLINT |
|---|---|
| Date of last notice | 3 March 2005 |
Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust
Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.
| Direct or indirect interest | |
|---|---|
| Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. |
|
| Date of change | |
| No. of securities held prior to change | Details notified on 3 March 2005. |
| Class | |
| Number acquired | |
| Number disposed | |
| Value/Consideration Note: If consideration is non-eash, provide details and estimated valuation |
|
| No. of securities held after change | |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back |
Part 2 - Change of director's interests in contracts
Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.
| Detail of contract | Mr Ellice-Flint has entered into a financing arrangement with Macquarie Bank Limited to fund the exercise of 2,000,000 options (each over one fully paid ordinary share in Santos Limited) granted pursuant to the Santos Executive Share Option Plan ('SESOP'). The transaction includes the purchase of a put option which provides security for the financing amount of \$11,660,000. The put option has the effect of protecting the value of the shares at a nominated level below the current share price. The put option is only exercisable on the maturity date of the transaction in March 2006. |
|---|---|
| Nature of interest | Direct interest. |
| Name of registered holder (if issued securities) |
John Charles Ellice-Flint. |
| Date of change | 2 March 2005 |
| No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed |
2,000,000 Santos Limited fully paid ordinary shares. |
| Interest acquired | See description in "Detail of Contract" above. |
| Interest disposed | See description in "Detail of Contract" above. |
| Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation |
A premium was paid to Macquarie Bank Limited for the transaction. |
| Interest after change | 3,000,000 fully paid ordinary Shares 1,000,000 options issued pursuant to SESOP. |