Union Jack Oil plc aims to resist opposition to its sale by reconvening its annual general meeting 21 days after publication of Reabold Resources plc’s £6.14 million offer, or that it is declared unconditional.
VOTES
The announcement on the AGM, adjourned on 26 June, is due five business days after the earlier of the two binding commitments on the transaction.
Serving directors faced removal from the board had shareholders voted on the resolution on the date of the original AGM, said Union Jack.
Former non-executive directors Craig Howie, who as at 7 May 2026 held approximately 9.16% of the company’s issued share capital, and John Americanos are against the sale to Reabold.
Union Jack added: “In further delaying the adjourned AGM, the company recognises that it is denying shareholders the ability to vote against the re-election of the board of directors immediately, as proxy votes received by the company for the adjourned AGM indicate that all members of the board would have been removed from office had the AGM proceeded on 26 June, assuming no change in voting intentions either at or before the meeting.
“The board considers the delay in reconvening the adjourned AGM is important in the face of determined opposition from two shareholders, Craig Howie and John Americanos, who the board believes would attempt to frustrate the offer process if they were appointed to the board.
“These two individuals have confirmed that they are against any offer for the company from Reabold.”