Aminex, the oil production and development company, said it continues to urge shareholders to take no action in relation to the proposed offer by Apple Oil and Gas Ltd.
At the company's extraordinary general meeting in Dublin today, shareholders approved the proposed reduction in the company's capital.
Aminex said it expects to return $7.5 million to shareholders by the end of April, equivalent to 6.9 pence per share.
Aminex chief executive Mr Brian Hall said: "Our strategy is to strike a sensible balance between returning immediate value to shareholders, investing in our existing operations and opening up a new province which provides an opportunity for further returns.
"We look forward to following our plans through and reporting further positive news to shareholders, once we have dealt with the unwelcome attentions of Apple Oil and Gas."
AFP