A general meeting will take place on 17 November
Reabold management stands firm against board clear-out
The co-CEOs of the North Sea-focused E&P warn that an activist shareholder lacks the vision and portfolio-familiarity to add value
Shareholders in AIM-listed Reabold Resources, which has a portfolio of pre-production UK offshore and onshore licences, will have a chance to vote in a general meeting on 17 November on a proposal by a group of minority shareholder to sweep away the current board and replace them with four new directors. Reabold co-CEOs Sachin Oza and Stephen Williams argue there is no obvious value-add to voting yes. “There is no awareness or understanding or depth of industry contacts that the proposed incoming board has in terms of trying to move this portfolio forward in any way,” says Oza. “It is those relationships that will fundamentally allow us to be in a position to drive the assets forward quickly
Also in this section
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
14 April 2025
US consumers are not likely to see gasoline prices fall to Trump’s ‘beautiful number’, at least if the president also wants to encourage more drilling
11 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
