Key Developments: Repsol SA (REPYF.PK)
23.00USD
14 Jun 2013
$0.30 (+1.32%)
$22.70
$23.00
$23.00
$23.00
500
317
$23.83
$13.15
Latest Key Developments (Source: Significant Developments)
Repsol SA Issues Shares For Script Dividend-Reuters
Reuters reported that Repsol SA will issue up 33.75 million shares as part of its program to provide compensation in shares, known as script dividend. The offer made by the Company is done at a rate of one new share for every 38 held. Repsol SA added that the guaranteed fixed price for those shareholders who opt for the traditional payment is cash dividend of is EUR 0.445 per right. The trading period of the allocation rights will begin on June 20, 2013 and end on July 4, 2013. Full Article
Repsol SA Has Explored Sale Of Part Or All Of Gas Natural Sdg SA Stake-DJ
Dow Jones reported that Repsol SA has recently explored a sale of part or all of its 30% stake in Spanish gas and electricity company Gas Natural Sdg SA, people with knowledge of the talks said. Full Article
YPF SA To Sue Repsol SA’s Chief For Board Member Salaries-Reuters
Reuters reported that YPF SA will sue the head of Repsol SA over accusations that YPF SA's Board Members were overpaid when Repsol SA held a majority stake in YPF SA. At a shareholders meeting, YPF SA decided to sue Repsol SA’s Chairman Antonio Brufau for allegedly overpaying members of YPF SA's Board of Directors between the years 2003 and 2011. YPF SA said in a statement that it could also take legal action against the Board Members themselves. Repsol SA threatened to file its own lawsuit in response and it defended the salary payments, saying they fully complied with Argentine laws and regulations. YPF SA estimated that USD 38 million was paid to Board Members without shareholders' approval. Full Article
Repsol SA Announces Dividend Payment; To Continue Repsol Flexible Dividend
Repsol SA announced that its Executive Chairman reviewed the Company’s shareholder remuneration policy, with a payout from earnings of between 40% and 55%. From fiscal year 2012 earnings, the Company has established a dividend equivalent to EUR 1 per share. Repsol SA will continue with the Repsol Flexible Dividend for which the Annual General Meeting approved the two proposed paid up capital increases necessary to maintain the program. In the paid up capital increase, replacing the traditional interim dividend for the 2012 financial year almost 70% of shareholders opted to receive their remuneration in shares. Full Article
Repsol SA To Convert Preference Shares Into Cash And Bonds-Reuters
Reuters reported that Repsol SA said it was seeking board approval to convert EUR3 billion ($3.9 billion) of preference shares into cash and bonds. In a statement, Repsol said it would offer holders of the preference shares with a nominal value of EUR1,000 - EUR475 of cash and EUR500 in a 10-year bond with a 3.5% coupon. Full Article
Guyana Signs Offshore Oil Exploration Deal With Spain's Repsol SA; Repsol SA To Partner With Tullow Oil PLC-Reuters
Reuters reported that Guyana's government signed an agreement giving Repsol SA rights to explore for crude off the South American nation's coast. The Company signed a four-year deal to explore the Kanuku Block, an area approximately 6,525 kilometers (4,055 miles) that is about 100 miles (161 kilometers) off Guyana's coast. Repsol SA will be partnering with Tullow Oil PLC and expects to complete a well by 2015. Full Article
Repsol SA Places EUR 1,200 Million Bonds-Reuters
Reuters reported that Repsol SA has placed among investors seven-year bonds in the amount of EUR 1,200 million at a price of 155 basis points over mid-swaps. Full Article
Repsol SA To Propose Cash Dividend Payment
Repsol SA announced that it will propose during the shareholders meeting to be held on May 31, 2013 to distribute a cash dividend of EUR 0.04 per share, effective on June 20, 2013. Full Article
Repsol SA Jointly with 70 & 48 LLC and GMT Exploration Company Makes Oil Discoveries in Alaska-Reuters
Reuters reported that Repsol SA announced that it has made three hydrocarbon discoveries in Alaska and that initial production tests on two of the wells showed encouraging results for future development. Repsol has a 70% stake in the operating consortium which includes the United States companies 70 & 48 LLC, a subsidiary of Armstrong Oil and Gas, with a 22.5% stake, and GMT Exploration Company, with a 7.5% stake. Full Article
Repsol SA Jointly with Enel SpA and GDF Suez SA Makes Gas Discovery in Algerian Block-DJ
Dow Jones reported that Repsol SA announced that it has made a gas discovery in the Sud-Est Illizi block, in the southeast of Algeria, the second since November 2012. Repsol, which operates the block, has a 25.7% stake in the project; Enel SpA has a 13.5% stake, GDF Suez SA a 9.8%, while the remaining 51% stake is owned by Algeria's state-run Sonatrach. Full Article
Mexico's Pemex names bidders for Chicontepec oil auction
MEXICO CITY, June 18 - Spanish oil company Repsol and China's Sinopec are among the 16 energy firms and consortia that have qualified for next month's auction of six blocks in Mexico's Chicontepec basin, state-run oil monopoly Pemex said on Tuesday.
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