REG - Reabold Resources - Response to Media Reporting

Reabold ResourcesAnnouncement

03/11/2023 16:15

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RNS Number : 3909S  Reabold Resources PLC  03 November 2023

3 November 2023

 

Reabold Resources plc

 

("Reabold" or the "Company")

 

Response to Media Reporting

 

Reabold Resources plc, the oil & gas investing company with a diversified
portfolio of exploration, appraisal and development projects, notes the recent
media coverage containing details of a purported general meeting requisition
notice from Kamran Sattar of Portillion Capital Ltd. ("Portillion"). As a
reminder to shareholders, Reabold's board understands that Kamran Sattar was a
supporter of, and driving force behind the unsuccessful attempt to gain
control of Reabold without paying a premium to shareholders through a general
meeting requisition in October 2022, by a group of five shareholders with
beneficial interests held through Pershing Nominees Limited. In addition, in
March 2023, the Company announced that it received an unsolicited approach
from Kamran Sattar on behalf of Portillion SPV O&G in respect of a
possible offer for Reabold, and in April 2023, Portillion announced that
Portillion SPV O&G did not intend to make a firm offer for Reabold.

 

Despite the media reporting that another requisition notice has been sent to
the Company, Reabold confirms that it has not received any form of
communication with regard to a notice requisitioning a general meeting, but
will make further announcements, as appropriate, if and when it does.

 

In the interim, Reabold advises shareholders to take no action.

 

 

 

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.

 

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