Bowleven activist shareholder Crown Ocean Capital’s proposals likely to be approved by shareholders - report
Bowleven [LON:BLVN] shareholders are set to approve proposals put forward by the activist shareholder Crown Ocean Capital when they vote on Tuesday, 14 March, The Sunday Telegraph reported.
The newspaper cited informed City sources who said the Bowleven board will probably lose its battle against Crown Ocean, based on proxy votes submitted before the deadline of Friday, 10 March.
Crown Ocean has proposed replacements for the Bowleven board and suggested that the UK-based oil and gas exploration group be converted to a holding company, the item noted.
Bowleven’s market capitalisation stood at GBP 115m (EUR 131m) at the close of trading in London on Friday.
Link to The Telegraph