Capricorn prepares for February showdown

The firm’s board continues to push back against opposition among some shareholders to plans for a merger with Israeli independent New Med

The dispute between London-listed Capricorn Energy’s board and shareholders over the proposed merger with Israel’s New Med is likely to come to a head in early February, with an extraordinary general meeting planned for the first of the month. The board expects to hold a “vote on the combination on or around the same date”. The shareholder revolt is being led by London-based fund Palliser Capital, which owns 6.96pc of Capricorn shares but claims that shareholders representing more than 40pc “disapprove of the New Med deal”. The fund called for a general meeting back in December, stating that it, “as required by the articles [of incorporation]... must take place by 30 January 2023 at the late