Petroceltic investor ‘to force sale’
Despite a no-show at Petroceltic’s AGM in Dublin, yesterday afternoon, the Swiss-based investment fund — which owns a near 30% stake in the Irish explorer — made its presence felt earlier in the day by formally requesting an EGM to block any asset sales without shareholder consent.
As it stated last week regarding a similar Worldview call for a shareholder vote on its pending $175m (€160m) debt raise, Petroceltic said that it would take legal advice on the matter, but noted that it would be a “time-consuming and unnecessary process” to have such a meeting.
