Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Beach Energy Limited    BPT   AU000000BPT9

BEACH ENERGY LIMITED

(BPT)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Beach Energy : Resolution under section 249N of the Corporations Act

share with twitter share with LinkedIn share with facebook
08/26/2020 | 03:11am EDT

Beach Energy Limited (ABN 20 007 617 969) | Level 8, 80 Flinders Street Adelaide, South Australia 5000

GPO Box 175, Adelaide, South Australia 5001 | beachenergy.com.au

ASX Announcement

Reference #032/20

Date 26 August 2020

Resolution under section 249N of the Corporations Act

In accordance with ASX Listing Rule 3.17A, Beach Energy Limited (ASX: BPT, Beach) advises that it has received a notice seeking to requisition the attached resolutions for consideration at Beach's Annual General Meeting, to be held on Wednesday 25 November 2020.

Beach acknowledges and respects the rights of shareholders to requisition resolutions and is assessing the validity of this request.

Beach sees natural gas as an important fuel as the Australian and global economies transition to a lower emissions future. As a tangible step, Beach has announced a commitment to an emissions reduction strategy, targeting a 25% reduction in emissions by FY25 relative to FY18 levels1.

Authorisation

This release has been authorised for release by Matt Kay, Managing Director and CEO of Beach Energy.

For further information contact the following on +61 8 8338 2833

Investor Relations

Nik Burns, Investor Relations Manager

Media

Rob Malinauskas, Head of Corporate Affairs and Community Relations

1 Refer to media statement "Beach targets emissions reduction of 25 per cent by FY25" issued on 17 August 2020 at https://www.beachenergy.com.au/wp- content/uploads/2020/08/Media-Release-Emissions-to-be-cut-by-25-per-cent.pdf

Page 1 of 2

Beach Energy Limited |

Attachment

Resolution 1- Amendment to the Constitution

To amend the constitution to insert beneath Clause 5 'General meetings' the following new sub-clause: "The company in general meeting may by ordinary resolution express an opinion or request information about the way in which a power of the company partially or exclusively vested in the directors has been or should be exercised. However, such a resolution must relate to a material risk as identified by the company and cannot either advocate action that would violate any law or relate to any personal claim or grievance. Such a resolution is advisory only and does not bind the directors or the company."

Resolution 2- Capital Protection

Shareholders request the company disclose, in subsequent annual reporting, a plan that demonstrates how the company will wind up its oil and gas production assets and operations in a manner consistent with the climate goals of the Paris Agreement.

This plan should include:

  • Details of how the company's capital expenditure will facilitate the efficient wind up of oil and gas operations and assets in a timeframe consistent with the Paris goals;
  • Production guidance for the lifetime of oil and gas assets that is consistent with the Paris goals;
  • Plans for decommissioning and rehabilitating asset sites at the end of their Paris-aligned lifetimes;
  • Plans for how employees of the company will be informed of asset closures, and employee transition plans, including any compensation for job losses, training and support in seeking future employment; and
  • Details of how remaining capital in the company will be returned to investors.

Beach Energy Limited

Page 2 of 2

Disclaimer

Beach Energy Limited published this content on 26 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2020 07:11:18 UTC


share with twitter share with LinkedIn share with facebook
All news about BEACH ENERGY LIMITED
10/19BEACH ENERGY : Notice of Annual General Meeting / Proxy Form
PU
10/13Australia shares edge lower on vaccine trial halts; NZ gains for eleventh day
RE
10/05Australian shares jump ahead of budget, Trump's improving health signs add to..
RE
10/01Energy stocks, Mesoblast's near 45% drop weigh on Australian shares
RE
10/01BEACH ENERGY : Confirmation of Annual General Meeting details
PU
09/24Australian shares end lower on prolonged economic recovery fears
RE
09/22CUE : Ironbark-1 Regulatory Approvals Complete
PU
09/17BEACH ENERGY : Enterprise drilling to commence
PU
09/17BEACH ENERGY : South East Survey
PU
09/02NEWPORT EXPLORATION : Receives aud$1,840,434/aud$1,288,304 quarterly royalty pay..
AQ
More news
Financials
Sales 2021 1 536 M 1 096 M 1 096 M
Net income 2021 336 M 240 M 240 M
Net cash 2021 107 M 76,1 M 76,1 M
P/E ratio 2021 8,77x
Yield 2021 1,47%
Capitalization 3 045 M 2 165 M 2 173 M
EV / Sales 2021 1,91x
EV / Sales 2022 1,67x
Nbr of Employees 483
Free-Float 70,2%
Chart BEACH ENERGY LIMITED
Duration : Period :
Beach Energy Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BEACH ENERGY LIMITED
Short TermMid-TermLong Term
TrendsBullishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 14
Average target price 1,92 AUD
Last Close Price 1,34 AUD
Spread / Highest target 98,5%
Spread / Average Target 43,7%
Spread / Lowest Target 12,4%
EPS Revisions
Managers
NameTitle
Matthew Vincent Kay Chief Executive Officer, MD & Director
Glenn Stuart Davis Independent Non-Executive Chairman
Ian Grant Chief Operating Officer
Morné Engelbrecht Chief Financial Officer
Colin D. Beckett Independent Non-Executive Deputy Chairman
Sector and Competitors
1st jan.Capitalization (M$)
BEACH ENERGY LIMITED-46.81%2 165
CNOOC LIMITED-40.82%44 186
CONOCOPHILLIPS-49.96%34 901
EOG RESOURCES, INC.-55.22%21 840
ECOPETROL S.A.-43.89%20 240
CANADIAN NATURAL RESOURCES LIMITED-46.60%20 152