Origin Energy held a scheme meeting where shareholders were asked to vote on the proposed acquisition of the company involving the Brookfield-led consortium of investors and EIG.
The resolution to approve the scheme wasn’t approved by the requisite majorities of Origin shareholder.
This majorities involved that 68.92 per cent of the votes cast by Origin shareholders had in favour of the resolution or that 77.83 per cent of Origin shareholders present and voting at the scheme meeting in favour of the scheme resolution.
“Shareholders turned out in significant numbers to have their say on the future of Origin,” Origin chairman Scott Perkins said.
“Throughout the process the board has focussed on ensuring all Origin shareholders recognise that their vote is important.
“While the scheme will not proceed, it was supported by many Origin shareholders.”
Perkins also said that importantly, this process had made clear the confidence all shareholders have in Origin’s business, assets and people, and its strategic positioning for the energy transition.
“We look forward to the continuing support of our shareholders as we focus on delivering on our strategic priorities, accelerating investment in cleaner energy and storage and pursuing our ambition to lead the energy transition.”
Subscribe to Energy Today for the latest project and industry news.