Reabold Resources plc’s acquisition of Union Jack Oil plc has had an unconditional completion date set for 25 September 2026. TIMETABLE Reabold said that both of the companies’ directors recommended that their shareholders vote in favour of the £6.14 million offer, which will be by means of a takeover. Reabold will hold its general meeting […]
Tag: takeover
Reabold to buy Union Jack for £6.14m
Reabold Resources plc has agreed a £6.14 million takeover of Union Jack Oil plc, which was at risk of losing its main assets. COMPELLING Under the agreement, each Union Jack shareholder will receive 0.051 new Reabold share in exchange for every one Union Jack share. Investment company Reabold said that, following completion, the enlarged group […]
Portillion withdraws plans to buy Reabold
Reabold Resources plc’s prospective buyer announced it would not make an offer after the oil and gas investor “failed to engage meaningfully” over the proposed transaction. PORTILLION Portillion SPV O&G executive chairman Kamran Sattar made the offer in mid-March. The company was established to “acquire and manage companies in the energy sector engaging in the […]