REG - Reabold Resources - Update re Requisitioned General Meeting

Reabold ResourcesAnnouncement

04/01/2024 15:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240104:nRSD7051Ya&default-theme=true

RNS Number : 7051Y  Reabold Resources PLC  04 January 2024

4 January 2024

 

Reabold Resources plc

 

("Reabold" or the "Company")

 

Update re Requisitioned General Meeting

 

Further to the Company's announcement of 28 December 2023, Reabold has been
informed by its Nominated Adviser, Strand Hanson Limited ("Strand Hanson"),
that despite its best endeavours (which commenced on 29 November 2023) Strand
Hanson has not received sufficient information to satisfy itself as to the
suitability of the proposed directors to be directors of the Company. It has
also not received sufficient, detailed explanations which address matters of
concern which, in the case of certain of the proposed directors, arose from
the due diligence that was able to be undertaken and interaction with the
individuals concerned.

 

Accordingly, as set out in the Company's announcement of 28 December 2023 and
in the circular sent to shareholders on 13 December 2023, in the event that
the resolutions in respect of the appointments of the proposed directors are
passed, Strand Hanson has informed Reabold that it expects that it would be
required to resign from its role as the Company's Nominated Adviser with
immediate effect. Should this be required, in accordance with AIM Rule 1,
trading in the Company's ordinary shares on AIM would be suspended following
the closing of the General Meeting on Wednesday, 10 January 2024. If a
replacement Nominated Adviser is not appointed within one month, admission of
the Company's securities to trading on AIM would be cancelled.

 

Ends

 

For further information, contact:

 

 Reabold Resources plc                                    c/o Camarco

 Sachin Oza                                               +44 (0) 20 3757 4980

 Stephen Williams

 Strand Hanson Limited - Nominated and 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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBUGDBCXGDGSS