Capricorn board out, Palliser nominees roll in
The vote appoints Hesham Mekawi, Christopher Cox, Maria Gordon, Craig van der Laan, Richard Herbert and Tom Pitts to the board with immediate effect. They all received 99.2% approval at the vote.
James Smith
Capricorn, NewMed merger chances “significantly decreased”
Capricorn chair Nicoletta Giadrossi is stepping down immediately from the board. So too is CEO Simon Thomson, in addition to Peter Kallos, Alison Wood and Luis Araujo.
Capricorn makes Palliser nominees an offer ahead of vote
Smith noted the opposition from shareholders to the Tullow merger. “The message from shareholders was that there was a preference for cash returns over long-term delivery. We listened to that and [the NewMed deal] offers a lot of cashback, while also being energy transition led.”
Capricorn faces EGM vote amid Palliser’s merger opposition
Capricorn noted that it had been working on “strategic alternatives” for more than a year. However, there have been no better options, it reported, and a sale is necessary to “maximise shareholder value and the full potential of Capricorn’s assets”.
Capricorn considers options in warning to Tullow merger plan
Amid mounting opposition from some investors to its proposed merger with Tullow Oil, Capricorn Energy is “assessing all options to maximise value for shareholders”.
Capricorn, Tullow to link up in merger of equals
Tullow Oil (LON:TLW) and Capricorn Energy (LON:CNE) have set out a plan to merge into a single London-listed African powerhouse.