Capricorn Energy PLC announces that, following consultation by the Board with a broad range of shareholders, it has entered into a Relationship Agreement with Palliser Capital and Mr Sachin Mistry, pursuant to which Mr Mistry will stand for election as a Non-Executive Director at the Annual General Meeting to be held on 23 May 2024. Subject to shareholder approval, Mr Mistry will join the Board with effect from the close of the Annual General Meeting.
Mr Mistry is a Portfolio Manager at Palliser Capital, a multi-strategy hedge fund and one of the largest investors in Capricorn with a shareholding of 10.6%. He will add to the Board's oversight of the company as it advances its long term strategic priorities to drive the most value for shareholders. He brings to the Board more than 20 years of investment, advisory, and financial strategy experience. Prior to joining Palliser Capital, he served as Portfolio Manager at LIM Advisors and before that he was an Executive Director at Elliott Advisors for more than eight years. He is not a director of any other listed companies.
Craig van der Laan, Chairman of Capricorn Energy PLC, said: "I look forward to working closely with Sachin who will be an important source of shareholder perspectives and views on strategic priorities."
Sachin Mistry said: "It is a privilege to be joining the Board at this time, and I look forward to working with the Board members and management team to execute on the next phase of their plans to maximise shareholder value."
Corporate Governance Information
Under the provisions of the UK Corporate Governance Code, Sachin Mistry will not be considered to be an independent Non-Executive Director.
Capricorn, Palliser and Sachin Mistry have entered into a Relationship Agreement which covers share dealings and other corporate governance matters.
