REG - Reabold Resources - Conversion of Loan Notes

Reabold ResourcesAnnouncement

08/05/2025 07:30

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RNS Number : 8573H  Reabold Resources PLC  08 May 2025

 

8 May 2025

Reabold Resources plc

("Reabold" or the "Company")

Conversion of Loan Notes

 

Reabold Resources plc, the investing company focussed on developing strategic
gas projects for European energy security, is pleased to announce that it has
converted £500,000 of outstanding convertible loan notes into 374 ordinary
shares of LNEnergy Limited ("LNE") at an average price of £1,350 per share.

Following this conversion, Reabold holds approximately 45.1% of LNE's enlarged
share capital.

Earlier this year, as announced on 26 March 2025, LNE entered into a binding
purchase and sale agreement ("PSA") to acquire the entire outstanding issued
share capital of LNEnergy S.r.l ("LNE S.r.l"). LNE is the manager and 100%
owner of LNE S.r.l., the Italian company that has a 90% interest in, and is
seeking regulatory approval for the development of, the Colle Santo gas field
in the Abruzzo region of Italy.

The Colle Santo gas field is a highly material gas resource with an estimated
65Bcf of 2P reserves(1), with two production wells already drilled and
flow-tested, making the field development ready. LNEnergy believes that the
field has the potential to generate an estimated €11-12m of gross post-tax
free cash flow per annum.

(1) RPS estimate, September 2022

For further information, contact:

 

 Reabold Resources plc                     c/o Camarco

 Sachin Oza                                +44 (0) 20 3757 4980

 Stephen Williams

 Cavendish - Broker and Nominated Adviser   +44 (0) 20 7220 0500

 Neil McDonald

 Pearl Kellie

 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.

 

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