Dispute over Capricorn proposed merger
Capricorn prepares for February showdown
The firm’s board continues to push back against opposition among some shareholders to plans for a merger with Israeli independent New Med
The dispute between London-listed Capricorn Energy’s board and shareholders over the proposed merger with Israel’s New Med is likely to come to a head in early February, with an extraordinary general meeting planned for the first of the month. The board expects to hold a “vote on the combination on or around the same date”. The shareholder revolt is being led by London-based fund Palliser Capital, which owns 6.96pc of Capricorn shares but claims that shareholders representing more than 40pc “disapprove of the New Med deal”. The fund called for a general meeting back in December, stating that it, “as required by the articles [of incorporation]... must take place by 30 January 2023 at the late
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
