Shell completed sell-down of 78 million shares in Woodside
Jun 18, 2014
Further to the announcement on 17 June 2014, Royal Dutch Shell plc (“Shell”) confirms its subsidiary has completed the sell-down of 78.27 million shares of Woodside Petroleum Limited (“Woodside”).
Shell Energy Holding Australia Limited (“SEHAL”) completed the sale at a price of A$41.35 per share with proceeds expected to be received on 23 June 2014. The sale to a broad range of equity investors attracted strong demand and took place on an underwritten basis.
As also announced on 17 June 2014, SEHAL has agreed with Woodside the buy-back of 78.27 million shares. After completion of the buy-back and cancellation of the buy-back shares by Woodside, which remains subject to limited conditions, including Woodside lender consent and Woodside shareholder approval, Shell’s ownership of Woodside will reduce to below 5%. As part of this transaction, SEHAL has agreed to retain its remaining shares in Woodside for 90 days from completion of the sell-down with limited exceptions.
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