Crown Ocean resolutions prevail
The results of the Bowleven general meeting (GM) were released this morning, with eight of the nine resolutions passed. This has led to the removal as directors of all but two of the board: the chairman Billy Allan and COO David Clarkson. They are joined by two additions proposed by Crown Ocean Capital: Eli Chahin and Christopher Ashworth. The results of the votes were all close run, with between 49.4% and 54.8% voting for. Given this, and the split board, we are unsure as to the near-term future for the company’s strategy. We would expect the new board to meet as a matter of urgency to look to resolve this uncertainty.Bowleven is an oil and gas company focused on Africa, where it holds a combination of development and exploration interests in Cameroon. Co.'s assets are aggregated into a single reporting segment: Africa operations, which focus on exploration and appraisal activities in Cameroon. All assets that are aggregated in this segment are in the exploration phase.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.