Printer Friendly

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.

COPYRIGHT 2015 AII Data Processing Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2015 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:SeeNews Austria
Date:Mar 2, 2015
Previous Article:Burger King to double number of Austrian restaurants by 2020 - report.
Next Article:Vienna Airport to propose 27% dividend hike for 2014.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters