Capital Reduction Update

RNS Number : 2728K

Reabold Resources PLC

27 August 2019

 

27 August 2019 

Reabold Resources Plc

("Reabold" or the "Company")

Capital Reduction Update

Reabold, the AIM investing company which focusses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce that, further to its announcement of 6 August 2019, the final hearing held today at the High Court of Justice approved the Company's order to cancel its share premium account. 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 4,063,963,810 and 6,915,896 respectively.

For further information please contact:

Reabold Resources plc Stephen Williams Sachin Oza	c/o Camarco [phone]
Strand Hanson Limited (Nominated and Financial Adviser) James Spinney Rory Murphy James Dance	[phone]
Camarco James Crothers Ollie Head Billy Clegg	[phone]
Whitman Howard Limited - Joint Broker Nick Lovering Grant Barker	[phone]
Turner Pope Investments (TPI) Ltd - Joint Broker Andy Thacker	[phone]

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.

 

END

 

 

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