Worldview Capital assumes full control of Petroceltic
The long-running and bitter battle for control at Irish exploration company Petroceltic has concluded with main shareholder Worldview Capital assuming full control of the company.
The long-running and bitter battle for control at Irish exploration company Petroceltic has concluded with main shareholder Worldview Capital assuming full control of the company.
Activist investor Worldview Capital has bought up more of Petroceltic's outstanding debt just days after the Irish junior advised shareholders to accept a takeover offer from Worldview.
Petroceltic said it is unable to give shareholders a firm recommendation to either accept or reject the 3pence per share offer from Sunny Hill capital to buy the company.
The Irish High Court has granted independent oil and gas producer Petroceltic an injunction prohibiting activist investor Worldview Capital from proceeding with its attempt to hold another extraordinary general meeting.
Exploration company Petroceltic has told its shareholders that activist investor Worldview Capital's attempt to convene a further extraordinary general meeting is unlawful.
Irish oil producer Petroceltic has appointed chartered accountant Hugh Cawley as a non-executive director.
Petroceltic has hit back at Worldview Capital, after the majority shareholder accused it of squandering the "company's crown jewel".