TIDMRBD

Reabold Resources PLC

22 December 2023

22 December 2023

Reabold Resources plc

("Reabold" or the "Company")

ISS Supports the Board of Reabold and Recommends Shareholders Vote Against All Resolutions

Reabold, the oil & gas investing company with a diversified portfolio of exploration, appraisal and development projects, is pleased to provide the following update on the ISS Proxy Analysis & Benchmark Policy Voting Recommendations, as it relates to the Company's requisitioned general meeting to be held on 10 January 2024. ISS has recommended that shareholders VOTE AGAINST ALL proposed resolutions, consistent with the current Board's recommendation. The current Board would encourage shareholders to cast their vote at their earliest convenience to ensure their votes are received before the general meeting.

ISS Proxy Analysis & Benchmark Policy Voting Recommendations concluded that:

"The Dissident's allegations lack any detail and were disclosed very close to the date of the General Meeting. On the other hand, the response of the Board appears to address in detail the concerns raised by the Dissident. Overall, the Dissident has not made a sufficiently convincing case for the board changes. Consequently, none of the proposed shareholder resolutions warrant support."

Ends

For further information, contact:

 
 Reabold Resources plc                c/o Camarco 
  Sachin Oza                           +44 (0) 20 3757 
  Stephen Williams                     4980 
 Strand Hanson Limited - Nominated    +44 (0) 20 7409 
  & Financial Adviser                  3494 
  James Spinney 
  James Dance 
  Rob Patrick 
 
  Stifel Nicolaus Europe Limited       +44 (0) 20 7710 
  - Joint Broker                       7600 
  Callum Stewart 
  Simon Mensley 
  Ashton Clanfield 
 
  Cavendish - Joint Broker             +44 (0) 20 7220 
  Barney Hayward                       0500 
 Camarco 
  Billy Clegg 
  Rebecca Waterworth                  +44 (0) 20 3757 
  Sam Morris                           4980

Notes to Editors

Reabold Resources plc has a diversified portfolio of exploration, appraisal and development oil & gas projects. Reabold's strategy is to invest in low-risk, near-term projects which it considers to have significant valuation uplift potential, with a clear monetisation plan, where receipt of such proceeds will be returned to shareholders and re-invested into further growth projects. This strategy is illustrated by the recent sale of the undeveloped Victory gas field to Shell, the proceeds of which are being returned to shareholders and re-invested.

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END

NRAUAVOROUUUUUA

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December 22, 2023 02:00 ET (07:00 GMT)

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