Woodside has failed to secure shareholder support for the company’s proposed buy-back of Shell shares.
In a General Meeting held in Perth, Australia, on 1 August, shareholders voted on the proposed buy-back of Shell’s shares in the company. 72% voted for the proposal, while 28% voted against. The resolution was not carried, as it required a 75% vote.
Shell intended to reduce its stake in Woodside from 23.1% to 4.5%.
Edited from various sources by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01082014/woodside-shareholders-block-shell-buy-back-1129/