Reabold Resources Regulatory News (RBD)

Reabold Resources plc

("Reabold" or the "Company")

Director Appointments

Issue of Options

Reabold, the AIM listed investment company operating in the natural resources sector, is pleased to announce that Sachin Oza and Stephen Williams, the Joint Chief Executive Officers of the Company, have been appointed to the Board of Directors with immediate effect. Mr Oza and Mr Williams will now both be acting as Directors and Joint Chief Executive Officers.

Mr Oza and Mr Williams each hold 10,000,000 ordinary shares in the Company (or 0.65% of the Company's issued share capital each) which they acquired under the placing to raise £3.96 million announced on 20 September 2017 (the "Placing") and at the Placing price of 0.5 pence per Placing share (the "Placing Price"). 

Following the Placing and in connection with the appointment of Mr Oza and Mr Williams to the Board, the Company also advises that options over Ordinary Shares (the "Options") as set out below were granted on 19 October 2017 over a total of 190 million common shares representing 12.33% of the issued share capital of the Company and expire four years from the date of grant.

Of the 190m stock options: 70 million have an exercise price of 0.50p and vest immediately and are in line with both the Placing Price as set out above, and with the subscription price of a subsequent fund raising totalling £1.76 million announced on 2 October 2017; 60 million have an exercise price of 0.75p, representing a premium of 50% to the Placing Price and vest 12 months from grant; and 60 million have a exercise price of 1.0p, representing a premium of 100% to the Placing Price, and vest 18 months from grant. Should any Option holder leave the Board prior to the vesting of their Options, such Options will be forfeited.

The issue of the Options as set out above ("the Transaction") are a related party transaction under the AIM Rules. Jeremy Edelman, the Director independent of the Transaction, considers, having consulted with the Company's Nominated Adviser, that the terms of the Transaction are fair and reasonable so far as shareholders of the Company are concerned.

Jeremy Edelman, Executive Chairman comments:

"I am delighted to see Sachin and Stephen join the Board and very much appreciate their efforts so far. Following discussions with potential investors at the time of the Placing it was agreed that putting in place appropriate management incentives to align the interests of new investors and management would be appropriate and therefore the Company hopes the grant of Options as detailed above will achieve this. We look forward to further benefiting from their considerable technical expertise and experience".

Disclosure required under the AIM Rules:

The names of all companies of which Mr Sachin Oza, aged 44, and Mr Stephen Anthony Williams, aged 36, has been a director at any time in the previous five years are set out below:

Mr Oza and Mr Williams, each hold 10 million ordinary shares in the Company.

There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014

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