Capricorn Energy has announced an adjournment of the key shareholder vote on its proposed merger with NewMed.
A requisitioned General Meeting will go ahead on 1 February, with an adjournment of the NewMed General Meeting until 22 February, "allowing a reconstituted board to assess the combination, alongside other strategic options, prior to determining the recommended route forward".
A stock exchange update explained that the board has listened to shareholder concerns about the timing of the meetings, and has therefore been considering the company’s obligations under the Business Combination Agreement entered into with NewMed on 29 September, as well as discussing with the Financial Conduct Authority about the requirements of the prospectus and circular published on 13 January.
