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/
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
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Nathan Piper, Commercial
Director
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Tel: 0131 475 3000
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Media
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Diana Milford, Corporate
Affairs
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Tel: 0131 475 3000
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Billy Clegg/Owen Roberts,
Camarco
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Tel: 0203 757 4980
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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