IN BRIEF: Reabold No Longer Plans To Make Offer For Deltic Energy

Mon, 10th Aug 2020 13:34

Reabold Resources PLC - London-based oil & gas projects investor - Decides against making a takeover offer for Deltic Energy PLC, formerly known as Cluff Natural Resources. This follows a July 15 announcement relating to a possible all-share offer by Reabold for Deltic. This 1.5 Reabold shares per Deltic share offer was "unequivocally rejected" by Deltic, a move supported by Deltic's largest 17% shareholder, and will not go ahead.

Current stock price: Reabold 0.57 pence; Deltic 0.86p

Year-to-date change: Reabold down 23%; Deltic up 8.1% since June name change

By Anna Farley; annafarley@alliancenews.com

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