REG - Reabold Resources - Statement re Press Comment <Origin Href="QuoteRef">RBDR.L</Origin>

Reabold ResourcesAnnouncement

26/02/2018 13:25

RNS Number : 9467F
Reabold Resources PLC
26 February 2018
For Immediate Release 26 February 2018
Reabold Resources Plc
"Reabold" or "the Company"
Statement re Press Speculation
The Directors note recent press speculation relating to a significant placing of shares by the Company.
Having deployed the funds raised last year, the Board considers that there is an opportunity to exploit further investments within the sector. Accordingly the Company confirms it is exploring market appetite for a placing. There can be no certainty as to the outcome of these discussions, but a further announcement will be made in due course.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014
ENDS
For further information please contact:
Reabold Resources plc
Stephen Williams
Sachin Oza
c/o Camarco
+44 (0) 20 3757 4980
Beaumont Cornish Limited
Roland Cornish
James Biddle
Felicity Geidt
+44 (0) 20 7628 3396
Camarco
Billy Clegg
James Crothers
Ollie Head
+44 (0) 20 3757 4980
Whitman Howard Limited - Joint Broker
Nick Lovering
Grant Barker
+44 (0) 20 7659 1234
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker
+44 (0) 20 3621 4120
Notes to Editors
Reabold Resources is an investor in upstream oil & gas projects with an aim 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. Management believes the current distress in the oil & gas industry presents an opportune time to deploy capital in undervalued assets with huge potential.

This information is provided by RNS
The company news service from the London Stock Exchange
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