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Pin to quick picksReabold Resources Regulatory News (RBD)

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Statement re Potential Fundraising

Fri, 4th Oct 2019 10:04

RNS Number : 8168O
Reabold Resources PLC
04 October 2019
 

4 October 2019 

Reabold Resources Plc

("Reabold" or the "Company")

Statement re Potential Fundraising

Reabold Resources, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, notes recent press speculation relating to a potential fundraising pursuant to an equity placing with certain existing and new investors.

 

The Company confirms that it is in the process of taking indications of interest from investors with regard to an equity placing of between £20 - 24 million, with the majority of the proceeds intended to be utilised to meaningfully increase Reabold's interest in Rathlin Energy (UK) Limited, to fund and accelerate the permitted, two well work programme at the West Newton project, and to exercise its existing option in Danube Petroleum Limited, providing the required funding for the IM-2 well.

 

The bookbuild, being conducted by Stifel Nicolaus Europe Limited, is expected to open at 4.45pm on Tuesday, 8 October 2019.

 

Further announcements will be made in due course.  

 

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

Rory Murphy

James Dance

 

+44 (0)20 7409 3494

  

Stifel Nicolaus Europe Limited

Callum Stewart

Nicholas Rhodes

Ashton Clanfield

 

+44 (0)20 7710 7600

  

Camarco

James Crothers

Ollie Head

Billy Clegg

+44 (0) 20 3757 4980

Whitman Howard Limited - Joint Broker

Nick Lovering

Grant Barker

 

+44 (0) 20 7659 1234 

Turner Pope Investments (TPI) Ltd - Joint Broker

Andy Thacker

+44 (0) 20 3621 4120

 

This announcement contains inside information.

Notes to Editors

Reabold Resources plc is an investing company investing in the exploration and production ("E&P") sector. 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. 

As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.

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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
STRCKQDKCBDKDKK
Date   Source Headline
10th Oct 20192:45 pmRNSPosting of Circular and Notice of General Meeting
9th Oct 20197:00 amRNSResults of Placing
8th Oct 20194:45 pmRNSProposed Placing to Raise £24 million
7th Oct 20193:45 pmRNSStatement re: Proposed Placing & Investments
4th Oct 201910:04 amRNSStatement re Potential Fundraising

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