{"id":136753,"title":"Union Jack Oil Confirms Takeover Approach from Reabold Resources","publisher":"Share Talk","author":"sharetalk","published":"2026-06-15T06:19:19+00:00","modified":"2026-06-15T06:19:19+00:00","canonical_url":"https://www.share-talk.com/union-jack-oil-confirms-takeover-approach-from-reabold-resources/","markdown_url":"https://www.share-talk.com/union-jack-oil-confirms-takeover-approach-from-reabold-resources.md","json_url":"https://www.share-talk.com/union-jack-oil-confirms-takeover-approach-from-reabold-resources.json","category":"Energy","categories":["Energy"],"tags":["3D seismic data","Biscathorpe","Biscathorpe-2","Broughton","David Bramhill","development","EDR","Egdon Resources","Egdon Resources U.K","EOG","Europa Oil & Gas","Fiskerton Airfield","gas","Graham Bull","Humber Basin","Humber Oil & Gas Limited","HYDROCARBON","Keddington","Lincolnshire","oil","onshore hydrocarbon","PEDL253 licence","production","side-track","South Humber Basin","UJO","Union Jack Oil","Union Jack Oil plc","Weald Basin","West Newton","West Newton A-2","Wressle","Wressle-1"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/01/UJO-3RD-JAN-2023.jpg?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"[Union Jack Oil plc (AIM: UJO)](https://www.investegate.co.uk/announcement/rns/union-jack-oil--ujo/statement-regarding-possible-offer/9617109)has confirmed that it has received a non-binding indicative proposal from Reabold Resources plc regarding a possible all-share acquisition of the company.\n\nThe approach remains at a preliminary stage, with discussions continuing between the two parties. Union Jack has granted Reabold access to due diligence information as part of the evaluation process, although the company stressed that there can be no certainty that a formal offer will ultimately be made, nor as to the terms of any potential transaction.\n\nUnder UK takeover regulations, Reabold is now subject to a “put up or shut up” deadline and must either announce a firm intention to make an offer or confirm that it does not intend to proceed by 5:00 p.m. on 13 July 2026.\n\nAs of 12 June 2026, Union Jack had 152,846,420 ordinary shares of 5 pence each in issue. After excluding 6,300,000 shares held in treasury, the company reported 146,546,420 voting shares in circulation.\n\nThe potential transaction would represent a significant development for shareholders in both companies, although investors should note that the proposal remains non-binding and highly conditional at this stage.\n\nMarket attention is now likely to focus on whether Reabold converts its initial interest into a formal offer before the July deadline, and on the valuation that may be attached to Union Jack’s portfolio of UK oil and gas assets should negotiations progress further."}