REG - Woodside Energy Grp. - Resolutions under s249N of the Corporations Act

Woodside EnergyAnnouncement

23/02/2023 07:01

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RNS Number : 8255Q  Woodside Energy Group Ltd  23 February 2023

Woodside Energy Group Ltd

ACN 004 898 962

Mia Yellagonga

11 Mount Street

Perth WA 6000

Australia

T +61 8 9348 4000

www.woodside.com

 

ASX: WDS

NYSE: WDS

LSE: WDS

 

Announcement

 

Thursday, 23 February 2023

 

 

RESOLUTIONS UNDER SECTION 249N OF THE CORPORATIONS ACT

 

In accordance with ASX Listing Rule 3.17A, Woodside advises that it has
received a notice seeking to requisition resolutions for consideration at its
upcoming 2023 Annual General Meeting (AGM). The proposed resolutions are
attached.

 

The proposed resolutions have been requisitioned by shareholders of Woodside
representing approximately 0.002% of the shares on issue.

 

Woodside is assessing the validity of the requisitioned resolutions. The
Notice of Meeting to be published in March 2023 will include any requisitions
that will be considered at the AGM, together with the response and voting
recommendations of the Woodside Board.

 

 

 Contacts:

 INVESTORS                  MEDIA

 Matthew Turnbull (Group)   Christine Forster

 M: +61 410 471 079         M: +61 484 112 469

                            E: christine.forster@woodside.com

 Sarah Peyman (Australia)

 M: +61 457 513 249

 Rohan Goudge (US)

 M: +1 (713) 679-1550

 E: investor@woodside.com

 

This announcement was approved and authorised for release by Woodside's
Disclosure Committee.

 

Attachment

 

Resolution 1 - Amendment to the Constitution

To amend the constitution to insert the following new clause 43A: "The Company
in general meeting may by ordinary resolution express an opinion or request
information about the way in which a power of the Company partially or
exclusively vested in the Directors has been or should be exercised. However,
such a resolution must relate to a material risk as identified by the Company
and cannot either advocate action that would violate any law or relate to any
personal claim or grievance. Such a resolution is advisory only and does not
bind the Directors or the Company."

 

Resolution 2 - Capital Protection

Shareholders note the company's support for the climate goals of the Paris
Agreement, along with the publication of the International Energy Agency's
Net‐Zero Emissions by 2050 Scenario, and the Climate Action 100+ company
assessment. Shareholders therefore request the company disclose, in subsequent
annual reporting, information that demonstrates how the company's capital
allocation to oil and gas assets will align with a scenario in which global
energy emissions reach net-zero by 2050, facilitating the efficient managing
down of these assets.

 

This information should include:

·      Production guidance for the lifetime of the company's oil and gas
assets;

·      Plans and capital expenditure expectations for decommissioning
and rehabilitating oil and gas asset sites;

·      Plans and provisions for supporting staff to transition to future
employment following oil and gas asset closures; and

·      Details of how remaining value in the company's oil and gas
assets will be redeployed or returned to investors.

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