18th Feb 2026 12:35
(Alliance News) - Beacon Energy PLC on Wednesday said it plans to buy a significant stake in LNEnergy Ltd from Reabold Resources PLC, which would constitute a reverse takeover of LNEnergy.
Douglas, Isle of Man-based Beacon Energy PLC is a former oil and gas mining company that became a cash shell in January 2025, while Reabold is a London-based investor focused on developing strategic gas projects for European energy security.
Beacon Energy said it plans to raise about GBP3.8 million via an issue of 97.2 million new shares at 3.9 pence each.
Beacon Energy shares were flat at 0.004p each on Wednesday afternoon in London, while Reabold Resources shares were 4.8% lower at 0.08p.
Beacon will hold an extraordinary general meeting on March 5. One day later, it expects the acquisition to complete, with the enlarged company set to trade on London's AIM.
Beacon Chief Executive Officer Steward MacDonald said: "The completion of a strategic investment in LNEnergy will be transformative for Beacon, providing the company with proven reserves, a pathway to production and an exciting pipeline of value catalysts over the next 18 months. We look forward to updating shareholders and the market on our progress in due course."
By Tom Budszus, Alliance News slot editor
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Related Shares:
Beacon Energy.Reabold Resources