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CAT Oil elects new supervisory board.

March 2 (SeeNews) - Austrian oil company CAT Oil AG (ETR:O2C) Friday announced it had elected a new supervisory board for the company and controlling shareholder Maurice Dijols is now chairman of the board.

The company's previous board resigned on February 20 amid an ongoing hostile takeover dispute.

One of the shareholders of CAT Oil, Joma Industrial Source Courp Group -- led by Dijols --A plans a hostile takeover that was first announced in October 2014. Dijols and Anna Brinkmann, former COO at CAT Oil and shareholder in CAT Holding, have been at loggerheads over the takeover since the autumn of 2014.

Earlier in February, the company said a court in Cyprus had issued an interim injunction against its majority shareholder CAT Holding and its affiliated holding companies. Under the injunction, CAT Holding is prohibited from transferring, pledging or disposing of its assets or assets of CAT Oil.

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Publication:SeeNews Austria
Date:Mar 2, 2015
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