TIDMRBD

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 
  Stephen Williams                     4980 
 Strand Hanson Limited - Nominated    +44 (0) 20 7409 
  and Financial Adviser                3494 
  James Spinney 
  James Dance 
  Rob Patrick 
 
  Stifel Nicolaus Europe Limited       +44 (0) 20 7710 
  - Joint Broker                       7600 
  Callum Stewart 
  Simon Mensley 
  Ashton Clanfield 
 
  Cavendish - Joint Broker             +44 (0) 20 7220 
  Barney Hayward                       0500 
 Camarco 
  Billy Clegg 
  Rebecca Waterworth                  +44 (0) 20 3757 
  Sam Morris                           4980

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 or visit 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.

END

MSCBUGDBCXGDGSS

(END) Dow Jones Newswires

January 04, 2024 10:40 ET (15:40 GMT)

Grafico Azioni Reabold Resources (LSE:RBD)
Storico
Da Nov 2024 a Dic 2024 Clicca qui per i Grafici di Reabold Resources
Grafico Azioni Reabold Resources (LSE:RBD)
Storico
Da Dic 2023 a Dic 2024 Clicca qui per i Grafici di Reabold Resources