REG - Reabold Resources - Capital Reduction Update

Reabold ResourcesAnnouncement

29/03/2023 12:45

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RNS Number : 6466U  Reabold Resources PLC  29 March 2023

29 March 2023

Reabold Resources PLC

("Reabold" or the "Company")

Capital Reduction Update

Reabold, the oil & gas investing company with a diversified portfolio of
exploration, appraisal and development projects, is pleased to announce that
the final hearing held yesterday at the High Court of Justice approved the
Company's application to cancel its share premium account, which was also
approved by shareholders on 28 February 2023 and further details of which are
set out in the Company's circular dated 10 February 2023. Accordingly, the
amount standing to the credit of the Company's share premium account has been
cancelled.

The number of ordinary shares and deferred A shares in issue remain unchanged
at 9,177,387,909 and 6,915,896 respectively.

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  +44 (0)20 7409 3494

 James Spinney

 James Dance

 Rob Patrick
 Camarco                                                  +44 (0) 20 3757 4980

 Billy Clegg

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

 Callum Stewart

 Simon Mensley

 Ashton Clanfield
 finnCap Ltd - Joint Broker                               +44 (0) 20 7220 0500

 Christopher Raggett

 Barney Hayward

 

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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