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 […]
Tag: merger
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. […]
Altus announces resignations following merger
Altus Strategies plc announced that Michael Winn and Gérard De Hert have tendered their resignations and stepped down from the Altus board. The news follows the merger of the company with Elemental Royalties Corp, which became effective as of today, 16 August 2022.
Altus-Elemental merger receives court sanction
Altus Strategies plc’s share-for-share merger of equals with Elemental Royalties Corp has received court sanction. TIMETABLE The companies first announced the agreement in June and received shareholder approval on 8 August. Altus said that the High Court of Justice of England and Wales had today made an order sanctioning the scheme under section 899 of […]
Serica and Kistos withdraw offers to merge
Serica Energy plc and Kistos plc today confirmed they would not make an offer to merge as one North Sea oil and gas company. REJECTIONS Serica said that on 12 July, Kistos rejected a possible offer from the company made on 8 July 2022. Serica added that subsequently it had been impossible to reach agreement […]
Serica fears ‘negative impact’ of Kistos offer
Serica Energy plc said the merger offer from smaller rival Kistos plc would “negatively impact” the combined entity’s balance sheet and growth potential. OPPORTUNISTIC In a detailed statement issued today, the company listed reasons why it had rejected the Kistos offer. Serica said it would be “materially undervalued” and that the proposed merger would not […]