Reabold Resources (LON:RBD) Proposed Placing to Raise £24 million

Further to its announcement on 7 October 2019, Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce a proposed Placing of 2,666,666,666 new ordinary shares (the “Placing Shares”) at a price of 0.9 pence per Placing Share (the “Placing Price”) raising £24 million.

The Placing is being conducted through an accelerated Bookbuild (the “Bookbuild”) which will be launched immediately following this announcement and will be made available to eligible institutional investors in accordance with the terms and conditions set out in Appendix 1 to this announcement.

The Bookbuild is expected to close no later than 8 a.m. on 9 October 2019, but Stifel and the Company reserve the right to close the Bookbuild earlier or later, without further notice.

Stifel Nicolaus Europe Limited (“Stifel”) is acting as bookrunner to the Company in connection with the Placing. Strand Hanson Limited (“Strand Hanson”) is acting as Nominated and Financial Adviser to the Company.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company’s announcement made on 7 October 2019.


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