Capricorn, NewMed abandon merger dream
Palliser has suggested that Capricorn should return at least $535 million to shareholders.
Palliser Capital
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.
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.
Proxy advisor firm calls out Capricorn, backs Palliser
“Despite billions in investments and divestments over a decade, we do not find evidence that Capricorn created any meaningful value for shareholders.”
NewMed defends Capricorn deal, but considers options
However, the company said in closing, it would “continue to consider its alternative strategic options, with the objective of maximising value for its unitholders”.
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 preps for Palliser vote, “genuine risk” of board removal
Capricorn Energy has conceded that it expects to hold an EGM on February 1 but has warned shareholders against rejecting its proposed combination with NewMed Energy.
Palliser adds more support to topple Capricorn board
Palliser Capital reports more Capricorn Energy shareholders have backed its plans to remove the board and scrap proposed merger plans with NewMed Energy.
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 activist investor Palliser positioned to call shareholder vote on NewMed takeover
An activist investor seeking to halt Capricorn Energy Plc’s (LON: CNE) takeover by NewMed Energy LP has converted its holdings to common shares, according to people familiar with the matter.
Capricorn deal rewards execs over shareholders, Palliser complains
Palliser Capital has joined criticism of Capricorn Energy’s proposed merger with NewMed Energy, saying it undervalues the Egypt-focused producer.
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 investor slates Tullow merger plan
An investor in Capricorn Energy has expressed its opposition to the company’s merger plan, describing it as one sided in favour of Tullow Oil.