NZO
19/12/2014 12:30
MEETING
PRICE SENSITIVE
REL: 1230 HRS New Zealand Oil and Gas Limited
MEETING: NZO: Special Meeting of Shareholders Results
One resolution was voted on by shareholders at the Special Meeting of
Shareholders of New Zealand Oil & Gas held in Wellington this morning from
10.00am New Zealand time.
Resolution 1
That the arrangements:
a) relating to the return of capital to the holders of Ordinary Shares by way
of a scheme of arrangement; and
b) relating to the holders of Part-Paid Shares by way of a scheme of
arrangement;
as set out in the Notice of Special Meeting and the Explanatory Notes, be
approved.
The required voting thresholds for approval of this resolution were:
a.) 75 per cent or more of the votes entitled to be cast, and cast, by
holders of Ordinary Shares; and
b.) 75 per cent or more of the votes entitled to be cast, and cast, by
holders of Part-Paid Shares; and
c.) a majority of all voting rights entitled to be voted on the resolution.
The resolution was voted on by way of a poll and the result is that each
required threshold, as described above, was met and accordingly the
resolution was carried.
New Zealand Oil & Gas has received a binding ruling from Inland Revenue which
has confirmed that the proposed return of capital by New Zealand Oil & Gas to
its shareholders will not be treated as dividends and will not be subject to
tax.
The last condition that needs to be met for the capital return to proceed is
for the final orders to be sought from and granted by the High Court
approving the return of capital by a Scheme of Arrangement under Part 15 of
the Companies Act 1993.
John Pagani
External Relations Manager
+64 21 570 872
End CA:00259195 For:NZO Type:MEETING Time:2014-12-19 12:30:10
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