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LONDON - John Wood Group PLC (LSE:WG) shareholders voted to temporarily disapply the borrowing limit set in the company’s articles of association during a General Meeting held Thursday.
The engineering and consulting firm announced that the resolution was passed with 96.56% approval, representing 273,453,408 votes in favor and 9,736,320 votes against. The meeting saw participation from 40.93% of the company’s issued share capital, with 795,289 votes withheld.
The approved resolution specifically sanctions the temporary disapplication of the borrowing limit outlined in Article 98(B) of Wood Group’s articles of association.
The vote took place at a General Meeting convened specifically for this purpose, which was held at 3:00 pm on Thursday. The company’s issued share capital at the meeting date stood at 691,839,369 shares, with each share carrying one vote.
Wood Group has made the full text of the resolution available on its corporate website, along with the complete voting results. In accordance with the Financial Conduct Authority’s UK Listing Rules, the company has submitted the resolution to the National Storage Mechanism.
The notification of the voting results was authorized by John Habgood, Group General Counsel and Company Secretary, according to the press release statement.
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