NZOG pledges strategy review after grumpy minorities reject Ofer deal

Thu, 14 Nov 2019

New Zealand Oil & Gas has promised a review of the firm’s strategy after minority holders rejected a takeover by major shareholder Ofer Global. The 74 cents-a-share offer, being effected through a scheme of arrangement, was already lost on the basis of postal and electronic votes unless shareholders attending today’s special meeting changed their positions. The final result today showed just over 63 percent of minority shares were voted against the plan. By number of shareholders, the offer was backed two-to-one in favour. During an at...

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