Oil Search Shares Suspended on PNG Exchange

  • Jun 03, 2020 AEST
  • Team Kalkine

The Acting Chairman of the Securities Commission of Papua New Guinea has issued orders to suspend the trading of shares of Oil Search Limited (ASX:OSH) on the PNG exchange.

  • The Securities Commission of PNG has raised an allegation that the Company did not obtain approval from the Securities Commission for the PNG Retail component of its recent capital raising; thus, breached the PNG Capital Market Act.
  • In response, OSG cited that it sought all the valid and relevant approval and would now defend its position by challenging the lawfulness of the orders in the National Court of PNG.

 


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