Corporate ActionJun 11, 2026, 04:31 PM
Weatherford Redomestication to Texas Fails; Plans Delaware Move
AI Summary
Weatherford International plc announced the results of its shareholder meetings, where routine matters were approved. Shareholders voted on a proposed redomestication from Ireland to Texas, U.S. While over 60% of votes supported the proposals, they did not meet the higher 75% approval threshold required to pass. The company, encouraged by the majority support, plans to present an updated proposal in the coming weeks to redomicile to Delaware, U.S., at a future meeting.
Key Highlights
- Shareholders representing 89.78% of 71,933,662 outstanding shares cast votes.
- Redomestication proposals received over 60% of votes cast in support.
- Proposals requiring a 75% approval threshold did not pass.
- Company plans to present an updated proposal to redomicile to Delaware, U.S.
- Routine matters, including director elections and KPMG as auditor, were approved.
Price Impact
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