REG - Capricorn Energy PLC - Capricorn to put forward Palliser Executive

Capricorn EnergyAnnouncement

13/03/2024 13:45

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RNS Number : 7395G  Capricorn Energy PLC  13 March 2024

FOR IMMEDIATE RELEASE                                                                                                               13 March 2024

 

 

 

Capricorn Energy PLC ("Capricorn" or the "Company")

 

Capricorn Energy PLC to put forward Palliser Capital Executive, Sachin Mistry,
for election as Non-Executive Director at 2024 Annual General Meeting

 

 

Capricorn Energy PLC today announces that, following consultation by the Board
with a broad range of shareholders, it has entered into a Relationship
Agreement with Palliser Capital and Mr Sachin Mistry, pursuant to which Mr
Mistry will stand for election as a Non-Executive Director at the Annual
General Meeting to be held on 23 May 2024. Subject to shareholder approval, Mr
Mistry will join the Board with effect from the close of the Annual General
Meeting.

 

Mr Mistry is a Portfolio Manager at Palliser Capital, a multi-strategy hedge
fund and one of the largest investors in Capricorn with a shareholding of
10.6%. He will add to the Board's oversight of the company as it advances its
long term strategic priorities to drive the most value for shareholders. He
brings to the Board more than 20 years of investment, advisory, and financial
strategy experience. Prior to joining Palliser Capital, he served as Portfolio
Manager at LIM Advisors and before that he was an Executive Director at
Elliott Advisors for more than eight years. He is not a director of any other
listed companies.

 

Craig van der Laan, Chairman of Capricorn Energy PLC, said: "I look forward to
working closely with Sachin who will be an important source of shareholder
perspectives and views on strategic priorities."

 

Sachin Mistry said: "It is a privilege to be joining the Board at this time,
and I look forward to working with the Board members and management team to
execute on the next phase of their plans to maximise shareholder value."

 

Corporate Governance Information

 

Under the provisions of the UK Corporate Governance Code, Sachin Mistry will
not be considered to be an independent Non-Executive Director.

 

Capricorn, Palliser and Sachin Mistry have entered into a Relationship
Agreement which covers share dealings and other corporate governance matters.

 

A summary of the main terms of the Relationship Agreement is available on the
Group's website at: www.capricornenergy.com/investors/corporate-governance/
(http://www.capricornenergy.com/investors/corporate-governance/)

 

Notification under Listing Rule 9.6.13

 

There are no details to disclose under paragraphs 9.6.13 R (1) to (6) of the
Listing Rules in respect of Sachin Mistry.

 

 

 

Ends

 

 

 

 

 

Enquiries to:

 Analysts / Investors
 Nathan Piper, Commercial Director                                           Tel: 0131 475 3000

 Media
 Diana Milford, Corporate Affairs                                            Tel: 0131 475 3000

 Billy Clegg/Owen Roberts, Camarco                                           Tel: 0203 757 4980

 

 

About Capricorn Energy PLC

 

Capricorn is an Egypt-focused energy producer, with an attractive portfolio of
onshore exploration, development and production assets in the Western Desert
with a producing position in the UK North Sea.

 

For further information on Capricorn please see: www.capricornenergy.com
(http://www.capricornenergy.com)

 

 

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