On January 23, 2023, Glass Lewis recommended that Capricorn EnergyÆs shareholders vote to replace its chief executive and other board members, and against a proposed merger with IsraelÆs NewMed Energy and the recommendations come ahead of meetings on February 1, 2023, where the Company shareholders will cast votes on the proposed merger a few hours ahead of voting on replacing seven directors following a proposal by Palliser. The recommendations by Glass Lewis echo proxy adviser Institutional Shareholder Services (ISS), which also recommended the Company shareholders should vote against the merger and to remove Chief Executive Simon Thomson, finance chief James Smith and 5 others from the board. Glass Lewis said its does not believe the NewMed transaction represents a reasonable exchange of value to the CompanyÆs shareholders on its current terms. In addition, Glass Lewis stated that it believes Palliser has presented a convincing case for rejecting the NewMed transaction and for support of its proposed wholesale board changes.