Reabold Resources PLC - invests in "low-risk, near-term" oil and gas projects - Strand Hanson Ltd would be forced to resign as Reabold's nominated adviser were the resolutions at the upcoming requisitioned general meeting to be passed. Reabold says Strand Hanson informed it of this, as the adviser has not been able to complete its required due diligence on the board directors proposed by Pershing Nominees Ltd. The 7.8% shareholder group requisitioned the general meeting, scheduled for January 10, proposing to remove the entire Reabold board and name four new directors. Were Reabold to be left without a nomad, its shares would be suspended from trading on AIM following the general meeting. If no replacement were to be named within a month, the shares would be cancelled from trading.
Current stock price: 0.11 pence, down 5.5% in London on Thursday
12-month change: down 47%
By Tom Waite, Alliance News editor
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Reabold Resources (RBD)