On December 11, 2015, Proxima Capital Group announced that it has delivered a requisition to JKX Oil & Gas plc to call a general meeting to give shareholders the opportunity to vote on a new direction for the company. Proxima Capital requisition proposes that the Board is reduced in size from 9 to 7 members, with all 4 executive members of the Board replaced along with 3 of the non-executive directors, Lord Oxford, Nigel Moore and Dipesh Shah. Further, Proxima Capital has proposed the following candidates, all of whom are wholly independent of PCG, to be appointed to the board in the following capacities: Paul Ostling, to be chairman; Tom Reed, to be CEO & Russell Hoare, to be CFO.

In addition, Proxima Capital has also proposed 2 candidates to represent it on the board: Vladimir Tatarchuk, CEO of Proxima Capital and Vladimir Rusinov, Managing Director of Proxima Capital.