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21 Nov 2022 15:37
21 November 2022
Reabold Resources plc
("Reabold" or the "Company")
Director/PDMR Dealings
Reabold, the AIM quoted investing company with a portfolio of upstream oil and gas projects, announces the following purchases of ordinary shares of 0.1p in capital of the Company ("Ordinary Shares") by Directors/PDMRs:
· Stephen Williams, Co-Chief Executive Officer, today purchased 10,660,744 Ordinary Shares at an average price of approximately 0.27 pence per share.
· The spouse (being a 'person closely associated') of Stephen Williams, today purchased 7,000,000 Ordinary Shares at a price of 0.295 pence per share.
· Sachin Oza, Co-Chief Executive Officer, today purchased 25,644,236 Ordinary Shares at an average price of approximately 0.28 pence per share.
· The spouse (being a 'person closely associated') of Sachin Oza, today purchased 13,544,242 Ordinary Shares at a price of approximately 0.30 pence per share.
Following these transactions, which are further detailed in the PDMR Notification Forms below, Stephen Williams' (including his spouse) ultimate beneficial ownership is 47,304,697 Ordinary Shares, representing 0.53% of the Company's issued share capital, and Sachin Oza's (including his spouse) ultimate beneficial ownership is 75,750,299 Ordinary Shares, representing 0.85% of the Company's issued share capital.
The below notifications are made in accordance with the Article 19 of the Market Abuse Regulation (EU) 596/2014 as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
PDMR Notification Forms:
1. Details of the person discharging managerial responsibilities / person closely associated
| ||||||||||
a) | Name | Stephen Williams | ||||||||
b) | Position / status | Co-CEO
| ||||||||
c) | Initial notification / amendment | Initial Notification
| ||||||||
2. Details of the issuer or emission allowance market participant
| ||||||||||
a) | Name | Reabold Resources PLC | ||||||||
b) | LEI | 2138006DR8T8XE87OC49 | ||||||||
3. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument Identification code
| Ordinary shares of 0.1p per share par value
GB00B95L0551
| ||||||||
b) | Nature of the transaction | Purchase of Ordinary Shares
| ||||||||
c) | Price(s) and volume (s) |
| ||||||||
d) | Aggregated information · Aggregated volume · Price |
10,660,744 Approximately 0.27 pence per share | ||||||||
e) | Date of the transaction | 21 November 2022 | ||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||
1. Details of the person discharging managerial responsibilities / person closely associated
| ||||||
a) | Name | Spouse of Stephen Williams | ||||
b) | Position / status | Notification concerns a PCA of Stephen Williams (Co-Chief Executive Officer) | ||||
c) | Initial notification / amendment | Initial Notification
| ||||
2. Details of the issuer or emission allowance market participant
| ||||||
a) | Name | Reabold Resources PLC | ||||
b) | LEI | 2138006DR8T8XE87OC49 | ||||
3. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||
a) | Description of the financial instrument Identification code
| Ordinary shares of 0.1p per share par value
GB00B95L0551
| ||||
b) | Nature of the transaction | Purchase of Ordinary Shares
| ||||
c) | Price(s) and volume (s) |
| ||||
d) | Aggregated information · Aggregated volume · Price |
7,000,000 0.295 pence per share | ||||
e) | Date of the transaction | 21 November 2022 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1. Details of the person discharging managerial responsibilities / person closely associated
| ||||||||||
a) | Name | Sachin Oza | ||||||||
b) | Position / status | Co-CEO
| ||||||||
c) | Initial notification / amendment | Initial Notification
| ||||||||
2. Details of the issuer or emission allowance market participant
| ||||||||||
a) | Name | Reabold Resources PLC | ||||||||
b) | LEI | 2138006DR8T8XE87OC49 | ||||||||
3. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||
a) | Description of the financial instrument Identification code
| Ordinary shares of 0.1p per share par value
GB00B95L0551
| ||||||||
b) | Nature of the transaction | Purchase of Ordinary Shares
| ||||||||
c) | Price(s) and volume (s) |
| ||||||||
d) | Aggregated information · Aggregated volume · Price |
25,644,236 Approximately 0.28 pence per share | ||||||||
e) | Date of the transaction | 21 November 2022 | ||||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||||
1. Details of the person discharging managerial responsibilities / person closely associated
| ||||||||
a) | Name | Spouse of Sachin Oza | ||||||
b) | Position / status | Notification concerns a PCA of Sachin Oza (Co-Chief Executive Officer) | ||||||
c) | Initial notification / amendment | Initial Notification
| ||||||
2. Details of the issuer or emission allowance market participant
| ||||||||
a) | Name | Reabold Resources PLC | ||||||
b) | LEI | 2138006DR8T8XE87OC49 | ||||||
3. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||
a) | Description of the financial instrument Identification code
| Ordinary shares of 0.1p per share par value
GB00B95L0551
| ||||||
b) | Nature of the transaction | Purchase of Ordinary Shares
| ||||||
c) | Price(s) and volume (s) |
| ||||||
d) | Aggregated information · Aggregated volume · Price |
13,554,242 Approximately 0.30 pence per share | ||||||
e) | Date of the transaction | 21 November 2022 | ||||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||||
This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.
For further information, contact:
Reabold Resources plc Sachin Oza Stephen Williams
| c/o Camarco +44 (0) 20 3757 4980
|
Strand Hanson Limited - Nominated & Financial Adviser James Spinney James Dance Rob Patrick
Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield
Panmure Gordon - Joint Broker Hugh Rich
| +44 (0) 20 7409 3494
+44 (0) 20 7710 7600
+44 (0) 207 886 2733 |
Camarco Billy Clegg Rebecca Waterworth | +44 (0) 20 3757 4980
|
Notes to Editors
Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector and has a diversified portfolio of assets in upstream oil & gas projects. Reabold aims to create value from each project by investing in undervalued, low-risk, near-term projects and by identifying a clear exit plan prior to investment. The Company's investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.
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