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Capricorn Energy Shareholders OK Proposed Cash Takeover by Genel Energy

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Capricorn Energy (CNE.L) said Tuesday that resolutions related to its proposed cash acquisition by Genel Energy's (GENL.L) indirect subsidiary Genel Energy No.9 Ltd. were passed by shareholders.

The court and general meetings were held on Tuesday, according to a same-day release. The scheme of arrangement is set to be effective in the second half once the remaining conditions are fulfilled or waived, including court approval at a sanction hearing.

Oil companies Genel and Capricorn agreed on the terms of the offer in July.

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