(Alliance News) - Wentworth Resources PLC on Thursday said shareholders voted in favour of being taken over by Etablissements Maurel & Prom SA during two polls at its court meeting and general meeting.
The Tanzania-focused natural gas production company said 75% of votes cast at the court meeting supported the GBP61.7 million takeover deal agreed in early December. It then passed at the general meeting by the same margin.
The acquisition remains subject to other conditions such as sanctioning by the Royal Court of Jersey "as soon as reasonably practicable", said Wentworth.
On Monday, Maurel & Prom said its 32.5 pence per share offer was final, "full and fair and therefore [...] will not be increased".
Earlier in February, Wentworth said advisors from an independent proxy advisory firm recommended that shareholders vote in favour of the takeover.
However, minority shareholder Fidelity International said it intended to vote against the deal. Fidelity owns around 12% of Wentworth.
Shares in Wentworth were down 0.6% to 31.32 pence each in London on Friday afternoon.
By Greg Rosenvinge, Alliance News reporter
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