Result of General Meeting, Issue of Equity, TVR

RNS Number : 1619I

Reabold Resources PLC

19 March 2018

 

Reabold Resources plc ("Reabold" or the "Company")

Result of General Meeting

Issue of Equity

Total Voting Rights

Reabold, the AIM-listed strategic investor in pre-cash flow upstream oil and gas projects, is pleased to announce that at the general meeting ("GM") held earlier today, all resolutions were passed.

Accordingly, authorities have been granted to the directors to allot new ordinary shares up to an aggregate nominal amount of £1,305,083 on a non pre-emptive basis.

On 28 February 2018, the Company announced a proposed subscription for a total of 1,305,083,333 new ordinary shares of 0.1 pence each (the "Ordinary Shares") in the capital of the Company (the "Placing Shares") at a price of 0.6 pence per Placing Share (the "Placing Price") to raise, in aggregate, £7.83 million (before expenses) (the "Placing") conditional on Shareholder approval being given at the GM.

Following the default of a Placee, as a result of being placed in insolvency, the final number of Ordinary Shares subscribed for under the placing is 1,291,750,000 (the " Final Placing Shares") at the Placing Price thereby raising £7.75 million (before expenses)

Further to Shareholder approval being given today, the Final Placing Shares, will be issued and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

Application has been made for the Final Placing Shares to be admitted to trading on the AIM market ("AIM") of London Stock Exchange plc (the "London Stock Exchange"), ("Admission"), and Admission is expected to take place on or around 20 March 2018.

Settlement for the Final Placing Shares, and Admission is expected to take place on or before 8.00 a.m. on 20 March 2018. 

Total Voting Rights

Following the issue of the 1,291,750,000 Final Placing Shares, the issued share capital of the Company consists of 2,832,165,896 Ordinary Shares of 0.01 pence each with voting rights. No Ordinary Shares are held in Treasury.

The above figure of 2,832,165,896 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the Disclosure Guidance and Transparency Rules.

Enquiries:

Reabold Resources plc	Sachin Oza Stephen Williams Anthony Samaha	C/o Camarco Tel:  [phone]
Beaumont Cornish Limited	Roland Cornish Felicity Geidt	Tel:  [phone]
Whitman Howard Limited	Nick Lovering Grant Barker	Tel: [phone]
Turner Pope Investments (TPI) Ltd - Joint Broker	Andy Thacker	Tel: [phone]
Camarco	Billy Clegg James Crothers Oliver Head	Tel:  [phone]

 

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