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Woodside fails to secure shareholder support

LNG Industry,

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

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