Share advisory firms back Petroceltic

The three largest global share advisory firms have come out in support of the Petroceltic board in its battle for control of the company.

The Dublin-based exploration firm faces a shareholder vote next week based on resolutions brought by leading independent shareholder, the Swiss investment firm Worldview Capital Management.

Worldview, which owns nearly 30% of the Irish firm, is unhappy with how the board is running Petroceltic and wants to double — to four — the number of its representatives on the board and remove chief executive Brian O’Cathain.