Result of Annual General Meeting

RNS Number : 2330H

Reabold Resources PLC

30 July 2019

 

30 July 2019 

Reabold Resources Plc

("Reabold" or the "Company")

Result of Annual General Meeting ("AGM")

Reabold, the AIM investing company which focusses on investments in pre-cash flow upstream oil and gas projects, announces that at its AGM held earlier today, all of the resolutions proposed were duly passed.

The proposal for a capital reduction, as announced on 2 July 2019 (the "Capital Reduction"), was passed by special resolution.

The Capital Reduction remains subject to the court's approval and a directions hearing is scheduled for 5 August 2019 at which the court will consider whether the appropriate approvals and consents have been obtained.  On the basis the court is satisfied that the application should proceed, a second hearing will be held on 27 August 2019 to confirm the reduction of capital.

Further announcements will be made in due course.

For further information please contact:

Reabold Resources plc Stephen Williams Sachin Oza	c/o Camarco [phone]
Strand Hanson Limited (Nominated and Financial Adviser) James Spinney Rory Murphy James Dance	[phone]
Camarco James Crothers Ollie Head Billy Clegg	[phone]
Whitman Howard Limited - Joint Broker Nick Lovering Grant Barker	[phone]
Turner Pope Investments (TPI) Ltd - Joint Broker Andy Thacker	[phone]

Notes to Editors

Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world. 

As an investor in upstream oil & gas projects, Reabold aims 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.

 

END

 

 

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