Shareholders of Amsterdam-listed consumer internet giant Prosus on Wednesday approved a plan to put an end to a complex cross-shareholding arrangement with its parent Naspers.

During its AGM, shareholders voted 99.9% in favour of the resolution that will see minority shareholders receive newly issued Prosus shares, followed by a 1:5000 share dilution. All of the resolutions tabled at the meeting passed with the requisite majority.

In the Naspers capitalisation, Prosus has waived its entitlement, meaning its shareholding will be diluted.