Petroceltic to seek injunction over EGMs

Irish oil and gas exploration firm Petroceltic is to seek a High Court injunction preventing one of its shareholders from convening an extraordinary general meeting.

The action is against Swiss hedge fund Worldview and arises out of its bid to call an EGM in London on Monday, October 5. Worldview holds 29% of Petroceltic’s share capital.

At the High Court in Dublin yesterday, Andrew Fitzpatrick, counsel for Petroceltic, said the company was seeking an injunction restraining what his client claimed was an “unlawful” meeting.