Day 35 Acceptance Level Update
Reabold Resources plc has provided an update on its recommended all-share offer for Union Jack Oil plc, reporting that as of September 3, 2026, at 1:00 p.m. London time, it had received valid acceptances for 8,352,272 Union Jack Shares, representing approximately 5.70% of the issued share capital. This figure includes 3,132,144 Union Jack Shares, or approximately 2.14%, which were subject to irrevocable undertakings. The offer remains open for acceptances until September 25, 2026, and Union Jack Shareholders are encouraged to accept the offer to facilitate the integration of Union Jack's assets into a more robust business.
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In accordance with Rule 17 of the Code, Reabold confirms that, as at 1.00 p.m. (London time) on 3 September 2026, Reabold had received valid acceptances of the Offer in respect of a total of 8,352,272 Union Jack Shares, representing approximately 5.70 per cent. of the issued share capital of Union Jack.
So far as Reabold is aware, included within the above are valid acceptances in respect of 3,132,144 Union Jack Shares, representing approximately 2.14 per cent. of the issued share capital of Union Jack, which were the subject of irrevocable undertakings to accept the Offer (the "Irrevocable Shares"). Further details of these irrevocable undertakings are as set out in paragraph 8 of Part VII of the Offer Document.
Therefore, as at 1.00 p.m. (London time) on 3 September 2026, Reabold counted 8,352,272 Union Jack Shares, representing approximately 5.70 per cent. of the existing issued share capital of Union Jack, towards the satisfaction of the Acceptance Condition to the Offer.
The percentages of Union Jack Shares referred to in this announcement are based on figures of 146,565,896 Union Jack Shares in issue as at close of business in London on 28 July 2026 (being the last Business Day prior to the publication of the Offer Document).
Action to be taken by Union Jack Shareholders
The Offer will remain open for acceptances until 1.00 p.m. (London time) on 25 September 2026, which is the Unconditional Date. The Unconditional Date may be brought forward or extended in accordance with the Code, as further described in paragraphs 2.2 and 2.4 of Section C of Part III of the Offer Document.
To accept the Offer in respect of Union Jack Shares held in certificated form (that is, not in CREST), you must complete, sign and return the Form of Acceptance accompanying the Offer Document (together with the relevant share certificate(s) and/or other document(s) of title) as soon as possible and in any event so as to be received no later than 1.00 pm (London time) on 25 September 2026 or, if earlier, the Unconditional Date.
To accept the Offer in respect of uncertificated Union Jack Shares (that is, in CREST), you must follow the procedure for Electronic Acceptance through CREST so that the TTE instruction settles as soon as possible and, in any event, so that the transfer to escrow settles no later than 1.00 pm (London time) on 25 September 2026 or, if earlier, the Unconditional Date. Full details of the procedures for acceptance of the Offer are set out in paragraph 17 of Part 1 of the Offer Document and as further described in the Form of Acceptance.
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