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 activist investor at the centre of the ongoing board battle at Irish explorer Petroceltic is confident its push for a change to the company’s management and operational strategy will succeed this year, even if it loses the vote at next week’s shareholder meeting.

Exploration firm Petroceltic has urged its shareholders to vote against resolutions being tabled by activist investor, Worldview Capital Management, in an upcoming ballot effectively saying its only aim is to gain control of the company without having to buy it out.

Oil producer Petroceltic International’s largest shareholder has called for an extraordinary general meeting of the Irish company’s shareholders to oust chief executive Brian O’Cathain.