RCS - Reabold Resources - Glass Lewis Recommendation

Reabold ResourcesAnnouncement

29/12/2023 07:00

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RNS Number : 1250Y  Reabold Resources PLC  29 December 2023

29 December 2023

 

Reabold Resources plc

 

("Reabold" or the "Company")

Glass Lewis Recommends Shareholders Support the Board's Recommendation to Vote
Against All Resolutions

Reabold, the oil & gas investing company with a diversified portfolio of
exploration, appraisal and development projects, is pleased to provide the
following update on the Glass Lewis Proxy Paper report, as it relates to the
Company's requisitioned general meeting to be held on 10 January 2024. Glass
Lewis has recommended that shareholders VOTE AGAINST ALL proposed resolutions,
consistent with the current Board's recommendation.

The current Board would encourage shareholders to cast their vote at their
earliest convenience to ensure their votes are received before the general
meeting.

Sachin Oza, Co-CEO of Reabold, commented:

"We are pleased to note that the Glass Lewis Proxy Paper report, along with
the ISS Proxy report, recommends that shareholders vote AGAINST ALL
resolutions, consistent with the current Board's recommendation. We strongly
encourage all shareholders to vote at their earliest convenience."

 

Ends

 

 

For further information, contact:

 

 Reabold Resources plc                                      c/o Camarco

 Sachin Oza                                                 +44 (0) 20 3757 4980

 Stephen Williams

 Strand Hanson Limited - Nominated & Financial Adviser      +44 (0) 20 7409 3494

 James Spinney

 James Dance

 Rob Patrick

 Stifel Nicolaus Europe Limited - Joint Broker              +44 (0) 20 7710 7600

 Callum Stewart

 Simon Mensley

 Ashton Clanfield

 Cavendish - Joint Broker                                   +44 (0) 20 7220 0500

 Barney Hayward

 Camarco                                                    +44 (0) 20 3757 4980

 Billy Clegg

 Rebecca Waterworth

 Sam Morris

 

Notes to Editors

 

Reabold Resources plc has a diversified portfolio of exploration, appraisal
and development oil & gas projects. Reabold's strategy is to invest in
low-risk, near-term projects which it considers to have significant valuation
uplift potential, with a clear monetisation plan, where receipt of such
proceeds will be returned to shareholders and re-invested into further growth
projects. This strategy is illustrated by the recent sale of the undeveloped
Victory gas field to Shell, the proceeds of which are being returned to
shareholders and re-invested.

 

 

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