REABOLD RESOURCES PLC — Share Issue/Capital Change 2019

Oct 28, 2019

National Storage Mechanism | Additional information

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RNS Number : 2457R

Reabold Resources PLC

28 October 2019

28 October 2019 

Reabold Resources Plc

("Reabold" or the "Company")

Update on Proposed Equity Swap and Placing

Reabold, the AIM investing company which focuses on investments in pre-cash flow upstream oil and gas projects, provides the following update on the Proposed Equity Swap in advance of the General Meeting of the Company to be held today.

The Company has significantly progressed discussions with certain Existing Rathlin Shareholders regarding the Proposed Equity Swap and the Board continues to expect that the transaction will complete on the terms described in the Circular.

Certain legal and administrative issues have caused a delay to entering into a binding Equity Swap Agreement. Accordingly, the Company will not be issuing any new Ordinary Shares in connection with the Proposed Equity Swap on 29 October 2019. Subject to shareholder approval, the Company will be issuing and allotting the Placing Shares as planned.

Notwithstanding the significant progress made to date, there can be no assurance that the Proposed Equity Swap will be completed.

Further announcements will be in due course.

Unless defined in this announcement, defined terms used in this announcement have the same meaning as set out in the Circular issued by the Company on 10 October 2019.

For further information please contact:

Reabold Resources plc Stephen Williams Sachin Oza	c/o Camarco +44 (0) 20 3757 4980
Strand Hanson Limited (Nominated and Financial Adviser) James Spinney Rory Murphy James Dance	+44 (0)20 7409 3494
Stifel Nicolaus Europe Limited (Sole Bookrunner to the Placing) Callum Stewart Nicholas Rhodes Ashton Clanfield	+44 (0) 20 7710 7600
Camarco James Crothers Ollie Head Billy Clegg	+44 (0) 20 3757 4980
Whitman Howard Limited (Joint Broker) Nick Lovering Grant Barker	+44 (0) 20 7659 1234
Turner Pope Investments (TPI) Ltd (Joint Broker) Andy Thacker Zoe Alexander	+44 (0) 20 3657 0050

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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