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ADELAIDE, May 1 Asia Pulse - The South Australian government has announced a review of a 28-year old law limiting individual shareholder ownership in oil and gas giant Santos (ASX:STO) to 15 per cent.
Premier Mike Rann says the six-month review is at the request of Santos.
The company has long complained that the cap limits share price growth and company growth.
Mr Rann said any lifting of the cap was not a done deal.
"My only concern is what's in the best interests of South Australia," he said.
The cap was introduced in 1979 to prevent Alan Bond from taking over the company and putting South Australian gas supplies at risk.
Santos's managing ...
Source: HighBeam Research, SOUTH AUSTRALIA TO REVIEW SANTOS OWNERSHIP CAP.