Worldview issues more meeting demands to oil firm Petroceltic

Caitlin Morrison
Follow Caitlin
WORLDVIEW Capital Management has once again issued a request for Irish oil firm Petroceltic to hold an extraordinary general meeting (EGM), regarding approval of a proposed $175m (£115m) bond.

The activist investor also demanded that the meeting be paid for personally by Petroceltic’s directors.

Worldview said it would not support “any further financings by the company” unless the Petroceltic board and senior management “resign with immediate effect as their positions are wholly-untenable”.

Petroceltic said: “Worldview’s plans to call another EGM on 5 October asking shareholders to vote on resolutions that are not in the best interests of the company and all its shareholders are a regrettable waste of company funds.”

Petroceltic was up 4.8 per cent yesterday.

Related articles