Exillon backed by stakeholders

FTSE 250-listed oil explorer Exillon Energy yesterday said that almost all of its shareholders had voted against proposals put forward by activist shareholder Worldview. Proxy votes had been received in respect of more than 116m shares – out of a possible 165m – and 99.86 per cent had voted against the proposals of Cayman-registered Worldview Capital Management to overhaul the board. In January, the investor demanded the removal of the firm’s chairman to turn around a slide in the share price, and three new board members. It requisitioned an EGM, but earlier this month withdrew its request. Worldview added that it would continue to look at issues of governance and strategy.