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  "documentTitle": "Capricorn Energy PLC (CNE)",
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  "presentationDate": "2022-10-27 00:00:00",
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  "notes": "The slide uses a side-by-side valuation table to highlight the discrepancy in value capture between the two entities in the proposed merger.",
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      "kind": "callout",
      "text": "Shareholders are faced with giving up their Capricorn shares at a 42% discount in exchange for fully valued NewMed shares",
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      "text": "NewMed is trading at zero discount to its net asset value",
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      "text": "The proposed exchange ratio currently values Capricorn at a 42% discount to its fair market value on an ex-dividend basis and represents a value give-away of over US$200 million",
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      "text": "Implied Premium / (Discount) vs. NAV: 42%",
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      "text": "Source: ERCE Fair Market Valuation Report, Company disclosures, Bloomberg as of 25 October 2022.",
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      "text": "Capricorn Energy: Standalone Ex-Dividend Value (US$ million)",
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      "text": "A Deeply Unfair Exchange of Value",
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