Relance du programme de rachat d'actions
13 Décembre 2023
Ressources Reabold plc
("Reabold" ou la "Société")
Relance du programme de rachat d'actions
Droits de vote totaux
Reabold Resources plc, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, is pleased to announce the restart of its share buyback programme, under new terms (the "Programme").
On 31 October 2022, Reabold announced its intention to commence a share buyback programme with the intention to return £4 million of excess cash to shareholders upon receipt of £9.5 million of deferred net proceeds to Reabold from Shell, relating to the sale of the Victory asset. The Company accelerated this return with an initial £750,000 buyback programme that commenced in April 2023 and has returned £156,154 to shareholders to date.
Reabold has now received £5.2 million of the deferred consideration from Shell in respect of the sale of the Victory asset, and is recommencing the Programme with up to a further £593,846 to be returned to shareholders.
Reabold's Board evaluates many investment opportunities consistent with its investing policy and believes that the current market value of the Company's Ordinary Shares makes the buyback an appropriate use of capital. The maximum quantum of the Programme has been set by the Board after having considered the current capital position and future capital needs of the Company, such that it retains financial flexibility whilst maintaining an efficient balance sheet.
The Board will keep the Programme under review to ensure that it continues as an efficient and effective means of generating value for Reabold shareholders. While the Company has launched the Programme, there is no certainty on the volume of shares that may be acquired, nor any certainty on the pace and quantum of acquisitions.
Stifel Nicolaus Europe Limited ("Stifel"), will continue to conduct the Programme and repurchase Ordinary Shares on Reabold's behalf, for a maximum amount of £593,846 worth of Ordinary Shares. During any closed periods of the Company, the buyback agreement will grant Stifel the authority to enact purchases of Ordinary Shares and make trading decisions concerning the timing of the purchases under the Programme independently of the Company. The purpose of the Programme is to reduce the issued ordinary share capital of Reabold.
The Programme will be conducted within certain pre-set parameters in accordance with the Company's general authority granted to the Company at its General Meeting on 29 June 2023 and will not exceed acquisitions of more than 2,263,532,572 Ordinary Shares. The average daily volume figure acquired under the Programme will be no more than 25% of the average daily volume traded in the calendar month preceding this announcement, thus the maximum daily volume limit will be 16,414,069 Ordinary Shares.
Any Ordinary Shares acquired under the Programme shall be at a maximum price (excluding expenses) of the higher of: (i) 10% above the average of the middle market quotations for an Ordinary Share as derived from the AIM Section of the Daily Official List of the London Stock Exchange for the five business days before the date on which the contract for the purchase is made; and (ii) an amount equal to the higher of the price of the last independent trade and current independent bid as derived from the London Stock Exchange trading system.
It is intended that the Programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 (as in force in the UK by virtue of the European Union (Withdrawal) Act 2018 and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019) (the "Regulation"), the Commission Delegated Regulation (EU) 2016/1052 (as in force in the UK by virtue of the European Union (Withdrawal) Act 2018 and as amended by the FCA's Technical Standards (Market Abuse Regulation) (EU Exit) Instrument 2019) (the "Delegated Regulation").
The Programme is expected to continue until the Company's General Meeting to be held on 10 January 2024, at which point the Programme will be reviewed.
Any market repurchase of Ordinary Shares will be announced no later than 7:30 a.m. on the business day following the calendar day on which the repurchase occurred.
Total des droits de vote
Following the admission to trading on AIM of the 486,486,487 new Ordinary Shares issued to LNEnergy pursuant to the exercise of the second option as announced on 11 December 2023, the total issued share capital of the Company consists of 10,474,685,207 Ordinary Shares. The Company holds 111,572,837 Ordinary Shares in treasury. Accordingly, the total number of voting rights in the Company is 10,363,112,370 and this is the figure that may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Fin
Pour de plus amples renseignements, communiquez avec:
Ressources Reabold plc Sachin Oza Stephen Williams
| c/o Camarco + 44 (0) 20 3757 4980
|
Strand Hanson Limited - Nommé et conseiller financier James Spinney James danse Patrick Patrick
Stifel Nicolaus Europe Limited - Société commune Broker Callum Stewart Simon Mensley Ashton Clanfield
Cavendish - Joint Broker Barney Hayward
| + 44 (0) 20 7409 3494
+ 44 (0) 20 7710 7600
+ 44 (0) 20 7220 0500 |
Camarco Billy Clegg Rébecca Waterworth Sam Morris
| + 44 (0) 20 3757 4980
|
Notes aux rédacteurs
Reabold Resources plc possède un portefeuille diversifié de projets d'exploration, d'évaluation et de développement pétroliers et gaziers. La stratégie de Reabold consiste à investir dans des projets à court terme et à faible risque qu'elle considère comme ayant un potentiel d'augmentation de valorisation significatif, avec un plan de monétisation clair, où la réception de ces produits sera reversée aux actionnaires et réinvestie dans d'autres projets de croissance. Cette stratégie est illustrée par la vente récente du champ gazier non développé de Victory à Shell, dont le produit est reversé aux actionnaires et réinvesti.
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