DENVER & PERTH, Australia--(BUSINESS WIRE)--Samson Oil & Gas Limited (ASX: SSN; NYSE MKT: SSN):
As a result of the shareholder votes at its Annual General Meeting of shareholders held on October 30th, 2015, Samson is required by Australian law to hold another shareholder meeting within 90 days. At this “spill meeting,” the shareholders must consider resolutions to re-elect non-executive Directors who held office at the time that the remuneration report for the 2014/15 fiscal year was approved and who choose to seek re-election as well as the election of any proposed new directors.
The Directors have determined to hold the spill meeting on Wednesday, January 27th at 11 am (Perth Western Australia time). While Samson is an Australian corporation, the listing of its ordinary shares on the ASX and its ADSs on the NYSE require it to comply with the securities laws of both jurisdictions. Accordingly, Samson has today filed with the US Securities and Exchange Commission its Schedule 14A Proxy Statement, which includes the Australian Notice of General meeting and Explanatory Memorandum. While the text of these documents is believed to be complete and accurate, they are subject to amendment prior to being made available to all Samson shareholders ahead of the January 27, 2016 meeting.
Samson’s Ordinary Shares are traded on the Australian Securities Exchange under the symbol "SSN." Samson's American Depository Shares (ADSs) are traded on the New York Stock Exchange MKT under the symbol "SSN." Each ADS represents 200 fully paid Ordinary Shares of Samson. Samson has a total of 2,837 million ordinary shares issued and outstanding (including 230 million options exercisable at AUD 3.8 cents), which would be the equivalent of 14.185 million ADSs. Accordingly, based on the NYSE MKT closing price of US$0.59 per ADS on November 25th, 2015, the Company has a current market capitalization of approximately US$8.5 million (the options have been valued at an exchange rate of 0.7265). Correspondingly, based on the ASX closing price of A$0.004 for ordinary shares and a closing price of A$0.001 for the 2017 options, on November 25th, 2015, the Company has a current market capitalization of approximately A$11.5 million.
SAMSON OIL & GAS LIMITED
Statements made in this press release that are not historical facts may be forward-looking statements, including but not limited to statements using words like “may,” “believe,” “expect,” “anticipate,” “should” or “will.” Actual results may differ materially from those projected in any forward-looking statement. There are a number of important factors that could cause actual results to differ materially from those anticipated or estimated by any forward-looking information