Shell said it has acknowledged the outcome of Woodside’s shareholders’ negative vote on the selective buy-back proposal. The company is reviewing its options in relation to its remaining 13.6% holding in Woodside, Shell said in a statement.
Woodside Petroleum held a vote last week on the proposed shares buy-back from Shell that needed 75% approval by the shareholders to go through with the $2.68 billion shares buyback.
Buyback won 72% support, with 28% against which was not enough for the resolution to be carried.
LNG World News Staff, August 4, 2014; Image: Woodside