ISS Supports the Board of Reabold

RNS Number : 4505F

Reabold Resources PLC

07 November 2022

 

7 November 2022

Reabold Resources plc

("Reabold" or the "Company")

ISS Supports the Board of Reabold and Recommends Shareholders Vote Against All Resolutions

Reabold is pleased to provide the following update on the ISS Proxy Analysis & Benchmark Policy Voting Recommendations. ISS reiterated the Reabold board's recommendations to VOTE AGAINST ALL of the proposed resolutions.

ISS Proxy Analysis & Benchmark Policy Voting Recommendations concluded that the requisitioners' allegations directed at the Board lack any detail. ISS also noted the requisitioners full business plan was disclosed too close to the meeting date. The report also found that, the Board's response appears to address those concerns raised by the requisitioners with detail. Overall, in the view of ISS, the requisitioners failed to make a compelling case for changes to the Board of Reabold.

For further information, contact:

Reabold Resources plc Sachin Oza Stephen Williams	c/o Camarco [phone]
Strand Hanson Limited - Nominated & Financial Adviser James Spinney Rory Murphy James Dance Stifel Nicolaus Europe Limited - Joint Broker Callum Stewart Simon Mensley Ashton Clanfield Panmure Gordon - Joint Broker Hugh Rich	[phone] [phone] [phone]
Camarco Billy Clegg Rebecca Waterworth	[phone]

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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