Our firm represented Capricorn Energy PLC (“Capricorn“), a public company incorporated in the United Kingdom and listed for trading on the London Stock Exchange, that operates in the field of oil and gas and owns petroleum assets in the United Kingdom, Egypt, Israel, Mauritania, Mexico and Suriname in an agreement for execution of a reverse merger transaction with New-Med Energy LP (“NewMed“), an Israeli limited partnership listed for trade on the TASE, which is engaged in the field of oil and gas and owns 45% of the Leviathan gas field offshore Israel. As part of the transaction, Capricorn will issue new shares to all the unitholders of NewMed, in exchange for the transfer of all rights in NewMed to Capricorn, resulting in NewMed becoming a private corporation fully owned by Capricorn after the transaction has been completed.
Capricorn’s shares are expected to be listed for trading in a “dual listing” on the Premium List on the London Stock Exchange as well as on the Tel Aviv Stock Exchange. Among other things, the transaction is subject to approval under Section 350 of the Companies Law, 5759-1999.
Capricorn was represented by partners Jack Smith, Yair Shiloni and Ori Yitzhak together with associates Adam Spiegel and associate Noy Hamel and intern Dana Hait.
