Plenty of coverage8 Oct 2025 07:44
Hybridan Small Cap Feast: 7 October 2025
Reabold Resources 0.07p £5,76m (RBD.L)
The investing Company focussed on developing strategic gas projects for European energy security announces that it has entered into a binding, conditional agreement with Beacon Energy PLC (BCE.L) in relation to a significant strategic investment in LNEnergy Limited. As part of the Proposed Transaction, Reabold is selling its total interest in LNE to Beacon for a EUR16m earn out mechanism pursuant to which Reabold will receive 25% of its pro rata share of the net cash flow from the Colle Santo project once in production.
Additionally, Reabold will receive new shares in Beacon, and will subscribe for additional shares as part of the Placing, to take its shareholding to approximately 29% of the enlarged capital of Beacon. Beacon will be seeking to admit its shares to trading on AIM and to carry out a placing to new and existing investors to raise approximately £3.5m to finance the Colle Santo project through FID and towards first production, as well as the associated required working capital. Reabold has agreed to support the Placing by participating with an investment of £750,000.