Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) has cancelled its general meeting after receiving too few votes in favour of a special resolution due to be decided this week.
The AIM-listed oil and gas company said that of the 40.2 million proxy votes submitted, around 21.1 million supported the proposal and 19.1 million opposed it.
With the resolution unlikely to pass, the board withdrew it and cancelled the meeting. The company said it still believes in sharing future growth with investors and remains open to constructive dialogue with shareholders.