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16 June 2016
Worldview Capital assumes full control of Petroceltic
CEO Brian O'Cathain and CFO Tom Hickey resign
Worldview Capital announces that following approval of the Petroceltic Scheme of Arrangement ("Scheme") by the Court today, the examinership process has now concluded and the Scheme has now become effective. As a result of the Scheme becoming effective, Worldview Capital has now assumed full control of the Company and the existing Share Capital of Petroceltic will be cancelled as of at 7.00 a.m. on 17 June 2016.
As a consequence of the Scheme, the entire Board of Petroceltic has stepped down. Chief Executive Officer Brian O'Cathain and Chief Financial Officer Tom Hickey have also stepped down from their respective executive roles.
Angelo Moskov, Chief Executive of Worldview Capital commented:
"We look forward to working with the Petroceltic team to ensure the long term success of the Company as it develops its assets."
For further information, please contact:
Angelo Moskov Tel: +44 207 796 4133
(Via Hudson Sandler)
Charlie Jack, Emily Dillon, Hudson Sandler Tel: +44 207 796 4133
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