Capricorn Energy plc today said it remained resolute on its proposal to merge with Israeli partnership NewMed Energy Ltd. REQUISITION NOTICE The company outlined its position to shareholders in an open letter which also concerned a special dividend and the December 2022 requisition notice from Palliser Capital Master Fund Ltd. The shareholder has raised concerns […]
Tag: Capricorn Energy plc
Capricorn investor Palliser calls for ousting of directors
Capricorn Energy plc said it had received a requisition notice from one of its investors to convene a general meeting to consider resolutions to remove certain directors of the board. DIRECTORS Palliser Capital Master Fund Ltd, which holds approximately 6% of the company, called for the removal of chief executive officer Simon Thomson, chief financial […]
Capricorn-Tullow cancel proposed merger
Capricorn Energy plc and Tullow Oil plc today confirmed the cancellation of the proposed transaction for an all-share merger. STATEMENTS Capricorn said that on 29 September 2022, Tullow announced it had determined not to increase the value of its offer for Capricorn or to elect to implement its offer by way of a contractual offer. […]
Capricorn keeps open Tullow merger options
Capricorn Energy plc said it was considering alternative transactions while maintaining that its proposed merger with Tullow Oil & Gas plc would create a stronger and more resilient business. PROPOSED MERGER Announcing the company’s half year results, chief executive Simon Thomson said that the proposed enlarged group would have assets in Ghana, Egypt, Gabon and […]
Capricorn suspends $200m share buyback
Capricorn Energy plc said it had suspended its £200 million share buyback following the company’s announcement today to merge with Tullow Oil plc. The suspension excludes the US$25 million tranche announced on 7 April 2022, which is being conducted by JP Morgan Securities PLC on a non-discretionary basis and will end no later than 6 […]
Tullow-Capricorn to merge
Tullow Oil plc and Capricorn Energy plc have announced plans for a recommended all-share merger to create one of the largest energy companies in Africa. TERMS In a joint statement today, the companies added that Capricorn shareholders would receive 3.8068 new Tullow shares for each Capricorn share held. This would see Capricorn shareholders owning 47% […]