Statement of Intent - Capricorn Energy Plc
Updated: Jan 16
STATEMENT OF INTENT REGARDING VOTING OF SHAREHOLDING INTERESTS AT THE GENERAL MEETING OF CAPRICORN ENERGY – 01 FEBRUARY 2023
Having considered the terms of the proposed reverse takeover between Capricorn Energy and Newmed Energy and having had regard to the publicly stated opposition and alternative proposals put forward by Palliser Capital, which has resulted in the planned General Meeting of the company on 01 February 2023 to vote firstly, on whether to proceed with the proposed takeover, followed immediately by a vote on the resolution submitted by Palliser Capital to remove seven of the company’s current Directors from the Board, we can confirm that we will not be voting in favour of the proposed takeover and pledge our shareholding interests in support of the resolution submitted by Palliser Capital.
We strongly believe that Capricorn Energy is currently undervalued by the market on a standalone basis and that the proposed takeover, which values the company at approximately 271 pence per share, below the company’s current Net Asset Value, is not therefore in the best interests of shareholders.
The statements provided in this and other posts are not financial advice, nor are they recommendations or solicitations to buy, sell or trade any security, nor are they solicitations of any proxy or vote. The information provided is for general information purposes only and should not be considered financial or investment advice. Trading and investing in securities involves substantial risks and you should consult with a qualified financial professional before making any investment decision.