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Capricorn Energy Plc announced changes to board leadership and the timing of general meetings for shareholder votes due to shareholder concerns in a press release on Jan. 24.
Board chair Nicoletta Giadrossi and board director Simon Thomson are stepping down from the board effective immediately following the proposed NewMed combination vote. Also stepping down are Peter Kallos, Alison Wood and Luis Araujo.
Furthermore, non-executive director Keith Lough and CFO James Smith intend to step down from the board in advance of the requisitioned general meeting on board composition. Both currently remain on the board to follow through on reporting obligations and other corporate governance requirements.
In addition to the change in leadership, the company also announced it is rescheduling shareholder voting on the proposed NewMed Combination and the Palliser requisitioned general meeting on board composition.
The NewMed general meeting will be adjourned from Feb. 1 until Feb. 22, leaving the Palliser requisitioned general meeting to go ahead on Feb. 1, allowing Capricorn’s reconstituted board to assess the NewMed combination.
The requisitioned general meeting nominee directors are waiting to be appointed to the board until the requisitioned general meeting on Feb. 1. Continuing directors, including non-executive director Cathy Krajicek and non-executive director Erik B. Daugbjerg, will help transition the nominee directors.
Headquartered in Edinburgh, U.K., Capricorn is an independent upstream energy company with operations in Europe.
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