RCS - Reabold Resources - ISS Supports the Board of Reabold

Reabold ResourcesAnnouncement

07/11/2022 07:00

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RNS Number : 4505F  Reabold Resources PLC  07 November 2022

7 November 2022

 

Reabold Resources plc

 

("Reabold" or the "Company")

ISS Supports the Board of Reabold and Recommends Shareholders Vote Against All
Resolutions

Reabold is pleased to provide the following update on the ISS Proxy Analysis
& Benchmark Policy Voting Recommendations. ISS reiterated the Reabold
board's recommendations to VOTE AGAINST ALL of the proposed resolutions.

ISS Proxy Analysis & Benchmark Policy Voting Recommendations concluded
that the requisitioners' allegations directed at the Board lack any detail.
ISS also noted the requisitioners full business plan was disclosed too close
to the meeting date. The report also found that, the Board's response appears
to address those concerns raised by the requisitioners with detail. Overall,
in the view of ISS, the requisitioners failed to make a compelling case for
changes to the Board of Reabold.

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

 Rory Murphy

 James Dance

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

 Callum Stewart

 Simon Mensley

 Ashton Clanfield

 Panmure Gordon - Joint Broker                              +44 (0) 207 886 2733

 Hugh Rich

 Camarco                                                    +44 (0) 20 3757 4980

 Billy Clegg

 Rebecca Waterworth

 

 

 

Notes to Editors

 

Reabold Resources plc is an investing company investing in the exploration and
production ("E&P") sector and has a diversified portfolio of assets in
upstream oil & gas projects. Reabold aims to create value from each
project by investing in undervalued, low-risk, near-term projects and by
identifying a clear exit plan prior to investment. The Company's investing
policy is to acquire direct and indirect interests in exploration and
producing projects and assets in the natural resources sector, and
consideration is currently given to investment opportunities anywhere in the
world.

 

Reabold's long term strategy is to re-invest capital made through its
investments into larger projects in order to grow the Company. Reabold aims to
gain exposure to assets with limited downside and high potential upside,
capitalising on the value created between the entry stage and exit point of
its projects. The Company invests in projects that have limited correlation to
the oil price.

 

Reabold has a highly-experienced management team, who possess the necessary
background, knowledge and contacts to carry out the Company's strategy.

 

 

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