RCS - Reabold Resources - ISS Supports the Board of Reabold

Reabold ResourcesAnnouncement

22/12/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231222:nRSV7000Xa&default-theme=true

RNS Number : 7000X  Reabold Resources PLC  22 December 2023

22 December 2023

 

Reabold Resources plc

 

("Reabold" or the "Company")

ISS Supports the Board of Reabold and Recommends Shareholders 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 ISS Proxy Analysis & Benchmark Policy Voting
Recommendations, as it relates to the Company's requisitioned general meeting
to be held on 10 January 2024. ISS 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.

ISS Proxy Analysis & Benchmark Policy Voting Recommendations concluded
that:

"The Dissident's allegations lack any detail and were disclosed very close to
the date of the General Meeting. On the other hand, the response of the Board
appears to address in detail the concerns raised by the Dissident. Overall,
the Dissident has not made a sufficiently convincing case for the board
changes. Consequently, none of the proposed shareholder resolutions warrant
support."

 

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.

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAUAVOROUUUUUA