Woodside proxies shy of threshold

Early votes fall short of required majority for share buyback ahead of tomorrow's meeting.

Woodside Petroleum says more than 70 per cent of proxy votes have backed its proposed buy-back of 78.3 million shares from Shell, but the deal will need strong support at a general meeting tomorrow to reach the necessary 75 per cent threshold.

Approximately 71.3 per cent of eligible proxy and direct votes cast were in favour of the $US2.68 billion buy-back, while 28.7 per cent were against.


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