Last checked at 29 Mar 2023 12:44
29 March 2023
Reabold Resources PLC
("Reabold" or the "Company")
Capital Reduction Update
Reabold, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, is pleased to announce that the final hearing held yesterday at the High Court of Justice approved the Company's application to cancel its share premium account, which was also approved by shareholders on 28 February 2023 and further details of which are set out in the Company's circular dated 10 February 2023. Accordingly, the amount standing to the credit of the Company's share premium account has been cancelled.
The number of ordinary shares and deferred A shares in issue remain unchanged at 9,177,387,909 and 6,915,896 respectively.
For further information please contact:
Reabold Resources PLC Stephen Williams Sachin Oza | c/o Camarco +44 (0) 20 3757 4980 |
Strand Hanson Limited - Nominated and Financial Adviser James Spinney James Dance Rob Patrick | +44 (0)20 7409 3494
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Camarco Billy Clegg Rebecca Waterworth | +44 (0) 20 3757 4980 |
Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield | +44 (0) 20 7710 7600 |
finnCap Ltd - Joint Broker Christopher Raggett Barney Hayward | +44 (0) 20 7220 0500 |
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.