07/07/2008 - 12:44

Woodside alert on unsolicited offer

07/07/2008 - 12:44

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Perth-based Woodside Petroleum Ltd has alerted its shareholders of a possible unsolicited offer following a request for the company's list of shareholders.

Perth-based Woodside Petroleum Ltd has alerted its shareholders of a possible unsolicited offer following a request for the company's list of shareholders.

In a statement, Woodside said the request was from Hassle Free Share Sales Pty Ltd, which has recently contacted shareholders of other Australian listed companies with unsolicited offers to purchase shares at below market price.

Under the Corporations Act, Woodside is obliged to provide the Hassle Free with the shareholder list.

"Woodside is concerned that if an unsolicited offer is made for Woodside shares, some shareholders may sell their shares for less (or on worse terms) than they could receive by trading on the market through a licensed broker," Woodside said in the statement.

The oil company warned that should shareholders receive an offer from any company, they should read the documentation carefully.

Shares in Woodside were down 88c to $60.87 at 14:53 AEST

 

Below is the full announcement:

Woodside's share registry Computershare has received a request from Hassle Free Share Sales Pty Ltd for a complete list of the company's shareholders. Woodside is obliged to comply with this request in accordance with the Corporations Act.

Hassle Free Share Sales Pty Ltd recently contacted shareholders of other Australian listed companies with unsolicited offers to purchase their shares at a price below the current market price.

The Australian Securities and Investments Commission has previously advised shareholders to be alert to some of the pitfalls of unsolicited and unexpected offers for their shares (www.fido.gov.au).

Woodside is concerned that if an unsolicited offer is made for Woodside shares, some shareholders may sell their shares for less (or on worse terms) than they could receive by trading on the market through a licensed broker.

If Woodside shareholders receive an offer from any company, they should read the documentation carefully and seek independent financial advice before making any decisions about their shares. The market value of Woodside shares is available from the company's website (www.woodside.com.au) or from the Australian Securities Exchange (www.asx.com.au, code: WPL). The ASX website also provides details on finding a broker.

 

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