There are six new appointments to Capricorn Energy’s Board of Directors following the last General Meeting. Chris Cox, Maria Gordon, Richard Herbert, Hesham Mekawi, Tom Pitts and Craig van der Laan join sitting members Catherine Krajicek and Erik B. Daugbjerg to form a reconstituted Board.
The new Board subsequently met to agree on immediate priorities and appointed Craig van der Laan as Chairman of Capricorn, Chris Cox as Interim CEO of Capricorn and Richard Herbert as Senior Independent Director.
The Board will undertake a comprehensive strategic review of Capricorn’s business and the various potential directions for the future of the company. These will be evaluated both from the perspective of maximizing the value of the company and of acting in the best interest of all interest groups.
The board also recognizes matters requiring immediate attention, including the adjourned stockholder meeting on NewMed’s proposed transaction and plans to consider a significant cash distribution to stockholders above operating requirements. The previous board’s decision to postpone the General Meeting to seek shareholder approval for the NewMed transaction, currently scheduled for February 22, 2023, provides an opportunity for the current Board to assess the merits of the transaction and determine the best course of action. a recommendation to shareholders.
“It is a privilege to have the opportunity to chair Capricorn at an important moment in the company’s history. Each new Board member joined Capricorn because we believe in the company’s potential and see untapped opportunities to maximize value,” said new Chairman Craig van der Laan.
“This transition presents an opportunity to start anew: to identify what the company needs without prejudice. As a first step in achieving this goal, we will conduct a comprehensive review of all available strategic directions before determining the best path forward,” he said.
On behalf of the board, van der Laan thanked outgoing Simon Thomson for his contribution to the company over the past 27 years.
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