REG - Reabold Resources - Amendment of Existing Option Terms

Reabold ResourcesAnnouncement

17/02/2022 12:45

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RNS Number : 0388C  Reabold Resources PLC  17 February 2022

17 February 2022

Reabold Resources Plc

("Reabold" or the "Company")

Amendment of Existing Option Terms

 

Reabold, the AIM investing Company focused on upstream oil and gas projects,
announces amendments to the terms of certain existing options currently held
by the Executive Directors (the "Existing Options").

 

In common with many businesses, the COVID-19 pandemic has significantly
constrained the Company's activities, delaying management's ability to
continue the successful implementation of its medium-term strategy. Therefore,
in order to further incentivise the executive management of the Company and
further align their interests with shareholders, Reabold's Remuneration
Committee has amended the following Existing Options such that their expiry
dates are extended by 12 months, to 19 March 2023, and additional extended
vesting terms are applicable, as outlined below. The exercise prices of the
Existing Options remain unchanged.

 

   Executive       Position          Existing Options  Exercise Price  Current     Amended     Current   Amended

                                     Held                              Expiry      Expiry      Vesting   Vesting

                                                                                               Status    Dates
 Sachin Oza        Co-CEO            20,000,000        0.60p           19-Mar-22   19-Mar-23   Vested    30-Sep-22

                                     20,000,000        0.90p           19-Mar-22   19-Mar-23   Vested    31-Dec-22

                                     20,000,000        1.20p           19-Mar-22   19-Mar-23   Vested    31-Dec-22
 Stephen Williams  Co-CEO            20,000,000        0.60p           19-Mar-22   19-Mar-23   Vested    30-Sep-22

                                     20,000,000        0.90p           19-Mar-22   19-Mar-23   Vested    31-Dec-22

                                     20,000,000        1.20p           19-Mar-22   19-Mar-23   Vested    31-Dec-22
 Anthony Samaha    Finance Director  5,000,000         0.60p           19-Mar-22   19-Mar-23   Vested    30-Sep-22

 

 

 

For further information please contact:

 Reabold Resources plc                                    c/o Camarco

 Stephen Williams                                         +44 (0) 20 3757 4980

 Sachin Oza
 Strand Hanson Limited (Nominated and Financial Adviser)

 James Spinney                                            +44 (0)20 7409 3494

 Rory Murphy

 James Dance
 Camarco                                                  +44 (0) 20 3757 4980

 James Crothers

 Rebecca Waterworth

 Billy Clegg

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

 Callum Stewart

 Nicholas Rhodes

 Ashton Clanfield

 Panmure Gordon - Joint Broker                            +44 (0) 20 207 886 2733

 Hugh Rich

 Nick Lovering

 

Notes to Editors

Reabold Resources plc is an investing company investing in the exploration and
production ("E&P") sector. 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.

As an investor in upstream oil & gas projects, Reabold aims to create
value from each project by investing in undervalued, low-risk, near-term
upstream oil & gas projects and by identifying a clear exit plan prior to
investment.

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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