Bowleven has urged its shareholders to oppose efforts by Monaco-based investor Crown Ocean Capital (COC) to take control of the company. COC, which has increased its stake to 15.56%, wants to replace the board and turn Bowleven into a holding company focused on returning cash to shareholders (AE 339/15).“COC’s intent is to take control of Bowleven without paying fair value, and it has no credible strategy to maximise the value from the company’s key assets, Etinde and Bomono,” Bowleven said on 8 February.