Woodside of Australia said that proxy and direct votes on the proposed buy-back of 78.3 million shares from Shell Energy Holdings Australia for a consideration of US$2,680 million have now been audited.
Voting results indicate that approximately 71.3 per cent of eligible proxy and direct votes cast are in favour and 28.7 per cent against. To proceed the resolution requires a 75 percent majority of votes cast to be in favour of the transaction. Approximately 59 per cent of those entitled to vote have done so through proxy or direct voting means.
The General Meeting will provide shareholders with the opportunity to vote in person in order to determine a final outcome. The General Meeting will take place on 1 August 2014 at the Perth Convention and Exhibition Centre.
Press Release, July 31, 2014