Origin Energy Limited recently held its company scheme meeting, during which shareholders were asked to vote on the proposed acquisition of Origin involving the Brookfield-led consortium of investors and EIG, by way of a Scheme of Arrangement.

The resolution to approve the scheme was not approved by the requisite majorities of Origin shareholders with:

• 68.92 per cent of the votes cast by Origin shareholders in favour of the Scheme Resolution; and
• 77.83 per cent of Origin shareholders present and voting at the Scheme Meeting in favour of the Scheme Resolution.

Origin Chairman Scott Perkins said: “Shareholders turned out in significant numbers to have their say on the future of the Origin. Throughout this process, the Board has focussed on ensuring all Origin shareholders recognise that their vote is important.

“While the scheme will not proceed, it was supported by many Origin shareholders. Importantly, this process has made clear the confidence all shareholders have in Origin’s business, assets and people, and its strategic positioning for the energy transition.

“We look forward to the continuing support of our shareholders as we focus on delivering on our strategic priorities, accelerating investment in cleaner energy and storage and pursuing our ambition to lead the energy transition.”