VR Capital Reiterates Intention to Vote AGAINST Proposed Business Combination Between Capricorn Energy and NewMed Energy and IN FAVOUR of Palliser Capital's Proposed Changes to Composition of the Company Board - Marketscreener.com

1 year ago 54

, /PRNewswire/ -- VR Global Partners, L.P. ("VRGP"), a holder of 6,544,661 communal shares of Capricorn Energy PLC (LSE: CNE) ("Capricorn Energy" oregon the "Company") representing an ownership involvement of astir 2.0%, contiguous disclosed its intent to ballot AGAINST the projected concern operation betwixt Capricorn Energy and NewMed Energy LP.

VRGP has recovered the Company's arguments successful favour of the operation to beryllium wholly unpersuasive and believes proceeding with the woody would beryllium destructive to shareholder value. VRGP finds the existent board's intransigence successful the look of absorption of truthful galore of its important shareholders to beryllium puzzling and concerning.

VRGP intends to ballot FOR Palliser Capital's projected changes to the creation of the Company's committee of directors. It is VRGP's content that replacing the current, entrenched committee with a reconstituted, impartial committee volition let an accidental to reappraisal the projected transaction presumption dispassionately and with a presumption toward maximizing shareholder value.

About VR Capital

VRGP is simply a money managed by VR Capital. VR Capital is an alternate plus manager focused connected distressed securities and event-driven/special situations with a beardown humanities predisposition towards emerging markets. VR Capital has offices successful New York and London and its concern advisory subsidiaries are regulated by the U.S. Securities and Exchange Commission and the U.K. Financial Conduct Authority.

For further accusation contact:

Steve Bruce / Taylor Ingraham
ASC Advisors
(203) 992-1230
sbruce@ascadvisors.com / tingraham@ascadvisors.com