Reabold Resources plc, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, announces an update to the forthcoming general meeting (the “General Meeting”) which was requisitioned by Pershing Nominees Limited on behalf of several beneficial shareholders.
Further details and notice of which are set out in the Company’s circular sent to shareholders on 13 December 2023 (the “Circular”), which included the proposed appointment of certain new directors to the board (the “Proposed Directors”).
The Company has been advised by its Nominated Adviser, Strand Hanson Limited (“Strand Hanson”), that its independent due diligence process, on the Proposed Directors, as required by applicable regulations, remains ongoing.
However, as stated in the Circular, in the event that the resolutions in respect of the appointments of the Proposed Directors are passed and Strand Hanson has not completed the required due diligence to its satisfaction, Strand Hanson has informed Reabold that it expects that it would be required to resign from its role as the Company’s Nominated Adviser with immediate effect.
Should this be required, in accordance with AIM Rule 1, trading in the Company’s ordinary shares on AIM would be suspended following the closing of the General Meeting on Wednesday 10 January 2024. If a replacement Nominated Adviser is not appointed within one month, admission of the Company’s securities to trading on AIM will be cancelled.
