Worldview to challenge Petroceltic vote result

Worldview Capital Management is set to formally challenge the result of yesterday’s shareholder vote that saw investors side with Dublin explorer Petroceltic in the stand-off between the two parties.

The Swiss-based investment firm, which owns nearly 30% of Petroceltic, had called the EGM in the hope of boosting its presence on the board and removing the firm’s chief executive, Brian O’Cathain.

However, each of the five resolutions were passed in favour of the Irish firm. As much as 85% of Petroceltic’s share register voted, with over 61% voting in favour of Mr O’Cathain remaining at the helm.