Activist investor Worldview is demanding an inspection of the proxies and poll votes cast in yesterday’s Petroceltic executive election, citing the “narrow margin of several resolutions”.
The Swiss investment firm’s attempt to oust Petroceltic’s chief executive Brian O’Cathain was defeated at yesterday’s meeting, with 61 per cent of the votes cast against the resolution to remove him. Shareholders voted on four other resolutions. Worldview is also demanding that Petroceltic’s chairman confirm “whether and how he or the registrars exercised any discretion to accept or reject any votes cast”. It added: “If this request is refused, Worldview believes shareholders should have serious concerns about the openness of the process.”
Worldview’s two nominees for director positions, Maurice Dijols, and Angelo Moskov, also failed to win over a majority of voters at the extraordinary general meeting.