Statement Regarding Possible Offer
Union Jack Oil plc has confirmed receipt of a non-binding indicative offer letter from Reabold Resources plc for a possible all-share acquisition of Union Jack's entire share capital. Discussions are ongoing, and Union Jack has provided due diligence access to Reabold, though there is no certainty an offer will be made or on what terms. As of 12 June 2026, Union Jack had 152,846,420 ordinary shares of 5 pence each in issue, with 6,300,000 held in treasury, resulting in 146,546,420 total voting rights. Reabold must announce a firm intention to make an offer or withdraw by 5:00 p.m. on 13 July 2026.
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Union Jack Oil plc (AIM: UJO) confirms that the Board of the Company received a non-binding indicative offer letter from Reabold Resources plc ("Reabold") on 1 June 2026 regarding a possible all share offer by Reabold (the "Offeror") for the entire share capital of Union Jack (the "Proposed Transaction").
The Board has evaluated the Proposed Transaction with its advisers and has provided due diligence access to Reabold. Discussions with Reabold are ongoing and there can be no certainty that any offer will be forthcoming or proceed, nor as to the terms of any such offer.
Union Jack shareholders should take no action at this time. A further announcement will be made as and when appropriate.
Under Rule 2.6(a) of the Code, Reabold must by no later than 5.00 p.m. on 13 July 2026 (the "Relevant Deadline"), either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, unless the Panel on Takeovers and Mergers (the "Panel") has consented to an extension of the Relevant Deadline in accordance with Rule 2.6(c) of the Code.
This is an announcement falling under Rule 2.4 of the Code and does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the Code.
Rule 2.9 Disclosure
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.