Capricorn Energy plc today opened and immediately closed the general meeting, adjourned from 1 February, relating to the now terminated proposed transaction with NewMed Energy Ltd. The proposed resolutions were withdrawn and the meeting closed with no shareholder vote taking place.
Tag: NewMed Energy Ltd
Capricorn-NewMed cancel proposed merger
Capricorn Energy plc announced that its proposed merger with Israeli company NewMed Energy Ltd had been terminated by mutual consent. STRATEGIC REVIEW Cancellation of the plans comes less than four months after Capricorn’s previous proposals to merge with Tullow Oil also failed. Today’s news follows a strategic review of the NewMed merger plans by Capricorn’s […]
Capricorn senior directors leave
Capricorn Energy plc’s senior directors have left their posts and the company has postponed its general meeting (GM) on proposals to merge with Israeli firm NewMed Energy Ltd. NEW DATE The moves follow demands from shareholder Palliser Capital plc which has since December 2022 objected to Capricorn’s plans for the merger and has also called […]
Capricorn offers way out of impasse with Palliser
Capricorn Energy plc has offered a new solution to its disagreements with shareholder Palliser Capital over the oil and gas company’s board members and proposed merger with Israeli firm NewMed Energy Ltd. NEW SOLUTION In another open letter today from non-executive chair Nicoletta Giadrossi on behalf of the board, Capricorn noted that in its presentation […]
Capricorn to accept ‘a number’ of Palliser nominees
Capricorn Energy said it was prepared to add a number of the nominees put forward by shareholder Palliser Capital Master Fund Ltd (32%) to its board before holding a requisitioned general meeting (GM). NOMINEES The company published its decision in an open letter dated today, 9 January, to Palliser. It follows the shareholder’s call for […]
Shareholder calls Capricorn ‘self-serving’
Palliser Capital Master Fund Ltd has urged Capricorn Energy plc to reconsider the timing of a general meeting (GM) to approve the proposed merger with NewMed Energy and Palliser’s requisitioned GM on Capricorn’s board changes. DATES Capricorn earmarked 1 February for the requisitioned GM, but the shareholder (32%) called for it to be held no […]