Woodside needs more votes to proceed with Shell buy-back
The company advised that proxy and direct votes on the proposed buy-back of 78.3 million shares from Shell Energy Holdings Australia Limited, for a consideration of US$ 2680 million, have now been audited.
Results show that approximately 71.3% of eligible proxy and direct votes cast are in favour of the buy-back, while 28.7% are against. To proceed with the buy-back, the resolution requires a 75% majority of votes cast to be in favour of the transaction. To date, approximately 59% of those entitled to vote have done so.
The Woodside General Meeting will provide shareholders with the opportunity to vote in person in order to determine a final outcome. The meeting will take place on 1 August in Perth, Australia.
Adapted from press release by Katie Woodward
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31072014/woodside-update-on-shell-buy-back-1116/
You might also like
IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty
Sluggish demand growth for LNG, combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis.