Capricorn Energy PLC to Discuss Proposed Combination with Newmed Energy LP Call Transcript
And welcome to this presentation of a proposed combination of NewMed and Capricorn to make a Middle East and North African energy champion. I'm Simon Thomson, Chief Executive of Capricorn, and with me are Yossi Abu, CEO of NewMed; and James Smith, CFO of Capricorn.
You already know, James. So let me introduce Yossi with a few words. Yossi is a former adviser to the Minister of Finance in Israel. He joined Delek Drilling, now NewMed, in 2009. He became CEO in 2011. And his success and experience are evidenced by the fact that he led NewMed through each of the world-class Leviathan and Tamar developments. So as in usual way, we've got a presentation to run through with you. We'd be happy to take questions at the end. It is being webcast, so please do state your name before asking a question.
Looking at the transaction itself, first of all, the proposed combination, in our view, offers a compelling value proposition for Capricorn shareholders with the distribution of all available net cash by way of a dividend, a 46%
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