RNS Number : 3909S
Reabold Resources PLC
03 November 2023
 

3 November 2023

 

Reabold Resources plc

 

("Reabold" or the "Company")

 

Response to Media Reporting

 

Reabold Resources plc, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, notes the recent media coverage containing details of a purported general meeting requisition notice from Kamran Sattar of Portillion Capital Ltd. ("Portillion"). As a reminder to shareholders, Reabold's board understands that Kamran Sattar was a supporter of, and driving force behind the unsuccessful attempt to gain control of Reabold without paying a premium to shareholders through a general meeting requisition in October 2022, by a group of five shareholders with beneficial interests held through Pershing Nominees Limited. In addition, in March 2023, the Company announced that it received an unsolicited approach from Kamran Sattar on behalf of Portillion SPV O&G in respect of a possible offer for Reabold, and in April 2023, Portillion announced that Portillion SPV O&G did not intend to make a firm offer for Reabold.

 

Despite the media reporting that another requisition notice has been sent to the Company, Reabold confirms that it has not received any form of communication with regard to a notice requisitioning a general meeting, but will make further announcements, as appropriate, if and when it does.

 

In the interim, Reabold advises shareholders to take no action.

 

 

 

For further information, contact:

 

Reabold Resources plc

Sachin Oza

Stephen Williams

 

c/o Camarco

+44 (0) 20 3757 4980

 

 

Strand Hanson Limited - Nominated & Financial Adviser

James Spinney

James Dance

Rob Patrick

 

Stifel Nicolaus Europe Limited - Joint Broker

Callum Stewart

Simon Mensley

Ashton Clanfield

 

Cavendish - Joint Broker

Barney Hayward

 

+44 (0) 20 7409 3494

 

 

 

 

+44 (0) 20 7710 7600

 

 

 

 

+44 (0) 20 7220 0500

Camarco

Billy Clegg

Rebecca Waterworth

Sam Morris

 

+44 (0) 20 3757 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.

 

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