Reabold Resources (LSE:RBD) has provided a Day 35 update on its recommended all-share offer for Union Jack Oil plc (LSE:UJO), reporting valid acceptances representing approximately 5.70% of Union Jack’s issued share capital.
As of the relevant reporting point, Reabold had received valid acceptances covering 8,352,272 Union Jack shares.
The total includes 3,132,144 Union Jack shares subject to irrevocable undertakings, representing approximately 2.14% of the company’s issued share capital.
The all-share offer was initially announced in July and is being conducted under the UK Takeover Code.
Reabold said the offer remains open for acceptance by Union Jack shareholders until 1.00 p.m. London time on 25 September 2026, which is currently the unconditional date.
Reabold’s board has recommended that remaining Union Jack shareholders accept the offer. The board has said it believes combining Union Jack’s assets with Reabold would create a more robust and competitive business.
More about Reabold Resources
Reabold Resources plc is an investing company focused on gas projects and upstream energy assets.
The company’s strategy includes acquiring and developing assets with a focus on the European energy sector.
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