Reabold Resources plc is considering an early distribution to shareholders following receipt of an initial £10 million, with £3.2m net to Reabold, from the sale of Corallian Energy Ltd to Shell UK Ltd. PARTIAL DISTRIBUTION The balance of the total £22m consideration (£9.5 million net to Reabold), is expected to be paid during 2023. At […]
Tag: Reabold Resources plc
Reabold completes acquisition of Simwell
Reabold Resources plc has completed its £1 million acquisition in cash and shares of Simwell Resources Ltd. ADJUSTMENT OF TERMS Simwell holds minority interests in four UK licences with partners Shell UK Ltd, Horizon Energy Partners Ltd and Ardent Oil Ltd in the Southern North Sea. The sales and purchase agreement (SPA) announced in September 2022, […]
Reabold directors buy 56.8m ordinary shares
Reabold Resources plc directors today purchased in total approximately 56.8 million ordinary shares of 0.1p in the company. DEALINGS Co-chief executive Stephen Williams purchased 10,660,744 ordinary shares each at an average price of approximately 0.27 pence per share. Mr Williams’ spouse; 7,000,000 ordinary shares each at 0.295 pence. Co-chief executive officer Sachin Oza; 25,644,236 ordinary […]
Reabold shareholders reject plan to remove directors
Reabold Resources plc said that proposed resolutions, including the removal of the entire board of directors, have been rejected at a requisitioned general meeting. TIMELINE Shareholders today voted against each resolution by slightly more than 75% with just under 25% in favour. In October 2022, Pershing Nominees Ltd which owns some 6.93% of Reabold’s issued […]
Reabold completes Corallian £32m sale
Reabold Resources plc said its investors can expect payouts following completion of the sale of its investee company Corallian Energy Ltd to Shell UK Ltd. CONSIDERATION The company expects that payment of the initial gross consideration of £10 million (c. £3.2m net to Reabold) will be made to Corallian shareholders (including Reabold) over the coming […]
Corallian sells for £32m to Shell UK
Reabold Resources plc reported the execution of the £32 million sale of its investee company Corallian Energy Ltd, holding the Victory discovery, to Shell UK Ltd. OPPORTUNITIES The investment company added it expected completion of the deal and initial gross consideration payment of £10m, c.£3.2m net to Reabold, will be during Q4 of 2022. Reabold […]