Jan 16 (LNGJ) - NewMed Energy, a main shareholder in the largest Israeli offshore natural gas field and a likely future LNG feed-gas supplier, said it was continuing with the process of being listed on the London Stock Exchange through a reverse takeover of UK company Capricorn Energy despite a possible last-minute hold-up. This followed a request received by Capricorn from a shareholder Palliser Capital, which holds a 6.9 percent Capricorn stake, for another shareholder meeting to be convened on the same day, February 1, 2023, as one already called to approve the NewMed-Capricorn transaction.
Palliser is calling for the replacement of most of the members of Capricorn’s board with new directors proposed by Palliser. “NewMed is continuing to promote the proposed business combination on its existing terms,” said a statement from the Israel company. “NewMed would reiterate that it continues to believe that the current terms and conditions of the proposed business combination with Capricorn are the most compelling option for all relevant stakeholders,” it added.
