22nd Nov 2023 18:23
(Alliance News) - Reabold Resources on Wednesday said it received a new requisition notice from one of its shareholders, Pershing Nominees Ltd.
Reabold advised its shareholders to take no action.
Reabold is an oil and gas investing company with a diversified portfolio of exploration, appraisal and development projects, while Pershing Nominees is a Liverpool, England-based private investment firm.
The latter owns 8.2% of Reabold's issued share capital on behalf of 13 beneficial shareholders. This is up from 7.8% a week ago.
Reabold reminded shareholders on Wednesday that Kamran Sattar of Portillion Capital Ltd was a driving force behind the unsuccessful attempt to gain control of the firm by a group of five shareholders last October.
These shareholders aimed to acquire Reabold without paying a premium to shareholders, using beneficial interests held through Pershing Nominees.
Further, in March this year, Reabold confirmed that it had received an unsolicited approach from Kamran Sattar on behalf of Portillion SPV O&G in respect of a possible offer for Reabold. In April, Portillion said that Portillion SPV did not intend to make a firm offer for Reabold.
Reabold Resources shares closed 2.0% higher at 0.13 pence each on Wednesday in London.
By Tom Budszus, Alliance News slot editor
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