REG - Reabold Resources - Update on Proposed Equity Swap and Placing

Reabold ResourcesAnnouncement

28/10/2019 07:05

RNS Number : 2457R
Reabold Resources PLC
28 October 2019
 


28 October 2019 
Reabold Resources Plc
("Reabold" or the "Company")
Update on Proposed Equity Swap and Placing
Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, provides the following update on the Proposed Equity Swap in advance of the General Meeting of the Company to be held today.
The Company has significantly progressed discussions with certain Existing Rathlin Shareholders regarding the Proposed Equity Swap and the Board continues to expect that the transaction will complete on the terms described in the Circular.
Certain legal and administrative issues have caused a delay to entering into a binding Equity Swap Agreement. Accordingly, the Company will not be issuing any new Ordinary Shares in connection with the Proposed Equity Swap on 29 October 2019. Subject to shareholder approval, the Company will be issuing and allotting the Placing Shares as planned.
Notwithstanding the significant progress made to date, there can be no assurance that the Proposed Equity Swap will be completed.
Further announcements will be in due course.
Unless defined in this announcement, defined terms used in this announcement have the same meaning as set out in the Circular issued by the Company on 10 October 2019.
 
For further information please contact:



Reabold Resources plc
Stephen Williams
Sachin Oza


c/o Camarco
+44 (0) 20 3757 4980




Strand Hanson Limited (Nominated and Financial Adviser)
James Spinney
Rory Murphy
James Dance


 
+44 (0)20 7409 3494
  




Stifel Nicolaus Europe Limited (Sole Bookrunner to the Placing)
Callum Stewart
Nicholas Rhodes
Ashton Clanfield


 
+44 (0) 20 7710 7600




Camarco
James Crothers
Ollie Head
Billy Clegg


+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
Zoe Alexander


+44 (0) 20 3657 0050



 
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.




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