Statement regarding Reabold offer
Union Jack Oil plc announced that following a requisitioned General Meeting on August 24, 2026, a new board was appointed, leading to an immediate review of the company's assets, liabilities, and financial position, including Reabold Resources plc's all-share offer. The new board, with its advisory team, will present its views and independent financial advice in a circular expected during the week of September 7, 2026, after receiving consent from the Takeover Panel.
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On 1 July 2026, the Board of Reabold Resources plc ("Reabold") announced a recommended all-share offer for the entire issued and to be issued ordinary share capital of Union Jack, to be effected by means of a UK Takeover Code (the "Code") contractual offer within the meaning of Part 28 of the Companies Act 2006 (the "Offer").
On 29 July 2026, Reabold announced that the offer document containing the full terms and conditions of the Offer and the procedures for acceptance of the Offer (the "Offer Document") had been published and was being made available to Union Jack Shareholders and to persons with information rights, together with (for those Union Jack Shareholders who hold their Union Jack Shares in certificated form) the related Form of Acceptance.
On 24 August 2026, Union Jack announced that, at the requisitioned General Meeting, all of the resolutions set out in the Notice of Requisitioned GM announced on 27 July 2026 had been duly passed. As a result of the passing of the resolutions, David Bramhill, Joseph O'Farrell and Dr Zac Phillips were removed from the Board with immediate effect and Craig Howie and John Americanos were appointed to the Board with immediate effect (the "New Board").
New Board statement regarding the offer for Union Jack
Following its appointment on 24 August 2026, the New Board has commenced a detailed review of the Company's assets, liabilities and the Company's strategic and financial position, including considering its position with respect to the Offer and the alternatives available to the Company and its shareholders.
The New Board, together with its new advisory team, is continuing its review process and will set out its views, together with the independent financial advice obtained, in a circular to be published during the course of the week commencing 7 September 2026. In accordance with Rule 31.8 of the Code, the Takeover Panel has consented to the publication of the circular following 'Day-39', during the course of the week commencing 7 September 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.