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Woodside needs more votes to proceed with Shell buy-back

LNG Industry,

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

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