Adjourned Annual General Meeting
Union Jack Oil plc has adjourned its Annual General Meeting until five business days after the earlier of the publication of Reabold Resources plc's offer document or the offer becoming unconditional, following Reabold's recommended all-share acquisition proposal. This delay is to prevent two shareholders, who are opposed to the Reabold offer and would have voted to remove the current board, from potentially frustrating the acquisition process if appointed to the board. Proxy votes indicated that all board members would have been removed had the AGM proceeded as originally scheduled.
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Union Jack Oil plc (the "Company") announces that, following the adjournment of its Annual General Meeting ("AGM") originally convened on 26 June 2026 and following the announcement on 1 July 2026 by Reabold Resources plc ("Reabold") of a recommended all share offer to acquire all of the issued share capital of the Company (the "Offer"), the adjourned AGM will be held on the date falling five business days after the earlier of (i) 21 days after publication of the offer document containing the terms and conditions of the Offer (the "Offer Document") and (ii) the date on which the Offer becomes or is declared unconditional.
Accordingly, following publication of the Offer Document, a further announcement will be made notifying shareholders of the actual date of the adjourned AGM, together with details of the time and the venue of the meeting.
In further delaying the adjourned AGM, the Company recognises that it is denying shareholders the ability to vote against the re-election of the board of directors (the "Board") immediately, as proxy votes received by the Company for the adjourned AGM indicate that all members of the Board would have been removed from office had the AGM proceeded on 26 June, assuming no change in voting intentions either at or before the meeting.
The Board considers the delay in reconvening the adjourned AGM is important in the face of determined opposition from two shareholders, Craig Howie and John Americanos, who the Board believes would attempt to frustrate the Offer process if they were appointed to the Board. These two individuals have confirmed that they are against any offer for the Company from Reabold.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.