News listings

energy-pedia general news

New Zealand flagNew Zealand

Central & SE Asia / Australasia >>> New Zealand

New Zealand: New Zealand Oil & Gas takeover by O.G. Oil & Gas fails to gain shareholder approval


14 Nov 2019

Photo - see caption

New Zealand Oil & Gas has announced that the scheme of arrangement with O.G. Oil & Gas (Singapore) (OGOG) was not approved by minority shareholders at the scheme meeting today.

To proceed, the scheme required 75% of the votes cast by minority shareholders (shareholders other than OGOG) to be in favour of it.

36.84% of the votes of minority shareholders were in favour of the scheme resolution and 63.09% were against.

795 minority shareholders, representing 68.89% of the total number of minority shareholders voting, voted in favour of the scheme resolution. 359 minority shareholders, representing 31.11% of the total number of minority shareholders voting, voted against.

As the scheme has not been approved by the required majority of votes cast, it cannot move forward to court approval. It is anticipated that the scheme implementation agreement with OGOG will be terminated and the scheme will not proceed.

Original article link

Source: NZOG





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current deals: 1707
Completed deals: 5265

Company Profiles

Current Company Profiles: 2650

Corporate Activity

Current Corporate Activity articles: 3357

Companies Looking

Current number of articles: 428

Company Sales

Current Company Sales articles:1382

Geostudies

Current Geostudies articles: 659

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

Union Jack Oil 149
Government of South Australia
Rose & Assocs 149
Geoespace
count geophysics
OPC
energy365
Bayphase
KL Publishing
SLR Consulting logo
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com