The board of Capricorn Energy has hit back at a proposal from activist shareholder Palliser Capital, stating that it is based on “outdated and incorrect facts and assumptions” about the company.
Palliser requisitioned an Extraordinary General Meeting (EGM), calling for shareholders to remove seven of the Edinburgh-based oil and gas company's directors and install six new ones.
It also opposes the proposed merger with Israel-based NewMed, which was announced in the autumn.
