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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Reabold Resources Plc | LSE:RBD | London | Ordinary Share | GB00B95L0551 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0075 | -8.33% | 0.0825 | 0.08 | 0.085 | 0.09 | 0.0825 | 0.09 | 22,029,771 | 09:00:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Mgmt Invt Offices, Open-end | 560k | -45k | 0.0000 | N/A | 7.9M |
TIDMRBD
RNS Number : 0955T
Reabold Resources PLC
29 June 2018
29 June 2018
Reabold Resources Plc
("Reabold", "Reabold Resources" or "the Company")
Result of General Meeting
Acquisition of Gaelic Resources Ltd
Issue of Equity
Total Voting Rights
Reabold is pleased to announce that at the general meeting of the Company held earlier today, all resolutions were passed. Accordingly, Reabold will issue 420,000,000 new Ordinary Shares of 0.1p in Reabold ("Consideration Shares") to complete the acquisition of 100% of the issued share capital of Gaelic Resources Ltd ("Gaelic") as announced on 14 June 2018 (the "Acquisition").
Application has been made for the Consideration Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM ("Admission"). Admission is expected on or around 4 July 2018.
Following Admission, the issued share capital of the Company consists of 3,252,165,896 Ordinary Shares of 0.01 pence each with voting rights. No Ordinary Shares are held in Treasury.
The above figure of 3,252,165,896 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules.
ENDS
For further information please contact:
Reabold Resources plc c/o Camarco Stephen Williams +44 (0) 20 3757 4980 Sachin Oza Beaumont Cornish Limited Roland Cornish James Biddle Felicity Geidt +44 (0) 20 7628 3396 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 +44 (0) 20 3621 4120
Notes to Editors
1 Reabold Resources 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.
2 Gaelic Resources Limited owns 100% of the interests in Temporary Energy LLC (a limited liability company registered in the state of California, United States of America) ("Temporary"). Temporary has the benefit of an earn-in agreement with Sunset Exploration, Inc ("Sunset") to earn into 50% of certain oil and gas licences owned by Sunset in California.
Temporary also has a master services agreement with an oilfield services company called Integrity Management Solutions, Inc. to have day to day management, operatorship and conduct of the drilling and exploration of the licence areas for which they charge a fee.
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.
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(END) Dow Jones Newswires
June 29, 2018 07:56 ET (11:56 GMT)
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