New Zealand Oil & Gas have reported on voting progress to date on the OGOG Scheme of Arrangement proposal.
As at 10.00am today FOR votes are 15.69% of the minority shares entitled to vote, AGAINST votes are 19.20%, and Discretionary votes 4.83%.
The AGAINST votes only need a further 5.81% of the votes to get past 25% and see the scheme fail, whereas the FOR votes need 59.32% for it to succeed, assuming everyone votes.
Not looking good for the FOR votes.
New Zealand Oil & Gas have reported on voting progress to date...
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