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.
Recommended Reading
Tullow Oil Ups 2022 Free Cash Flow Outlook, Ghana Tax Looms
2023-01-25 - Tullow's cash flow this year may be impacted by higher capital spending, some of which is deferred from 2022, and decommissioning costs, said Finance Chief Richard Miller.
Exxon Signals Strong Q4 Profit to Drive Annual Record
2023-01-05 - Preliminary operational results confirmed that 2022 was Exxon Mobil's best financial year, the company reported, with profits nearing $58 billion.
Exxon Sues EU in Move to Block New Windfall Tax on Oil Companies
2022-12-29 - Exxon says the tax deters the company from investing further in European energy.
Global Stocks Gain, Dollar Drops Ahead of Fed Rate Decision
2022-12-14 - "There was that pop we saw in markets, but then there's a realization perhaps dawning that it's not necessarily going to be an easy path ahead... it's a long way down," Hargreaves Lansdown's Susannah Streeter said of U.S. inflation.
Kinder Morgan Sees Higher 2023 Adjusted Core Earnings on Strong Demand
2022-12-08 - "We expect 2023 to be another very good year for Kinder Morgan, with strong market fundamentals, continued robust growth in demand," Kinder Morgan CEO Steve Kean said.