The ownership of manuka honey exporter Comvita is set to be determined this afternoon

Shareholders are meeting to vote on an 80-cents-a-share takeover offer from Florenz, a subsidiary of Christchurch billionaire Mark Stewart's Masthead Limited.

The offer's received unanimous backing from Comvita's board and its two largest shareholders.

But it also needs the support of at least 75-percent of all shareholders, and at least 50-percent of all total votes attached to shares.

Results from postal and electronic votes suggest that threshold may not be met.