Activist group Market Forces has asked the regulator to investigate statements by chairman Keith Spence and CEO Kevin Gallagher at the May 3 annual meeting.
Activist shareholder group Market Forces has made a formal complaint to Australia’s securities regulator about potentially misleading statements by Santos chairman Keith Spence and managing director Kevin Gallagher in a further escalation of climate pressures around the oil and gas producer’s expansion plans.
Santos chairman Keith Spence and CEO Kevin Gallagher are being taken to task regarding statements made to the AGM on May 3.The statements were in response to questions by one of the group’s campaigners over how Santos’ plans for new oil and gas projects complied with“We are concerned that Santos’ conduct may mislead investors into thinking the company is more environmentally friendly than it really is,” campaigner Will van de Pol said in an emailed letter to ASIC on August 4.
A Santos spokeswoman noted that after the AGM the company had issued a clarification of the comments on its website on how its investment in new oil and gas fields were compatible with the IEA’s net zero scenario.
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