Reabold Resources (LSE:RBD) said it had received valid acceptances covering approximately 13.1% of Union Jack Oil’s (LSE:UJO) issued share capital ahead of the final deadline for its all-share takeover offer.
As of 1 October 2026, Reabold had received valid acceptances in respect of 18,668,484 Union Jack shares. A further 494,757 shares are covered by outstanding irrevocable commitments.
Together, these represent 19,163,241 Union Jack shares and are being counted by Reabold towards satisfying the acceptance condition of its offer.
The all-share offer was initially announced in July and remains open for acceptances until 1.00 p.m. London time on 2 October 2026. The deadline follows a decision by the Takeover Panel resetting the final date for the offer.
Reabold has called on Union Jack shareholders who have not yet accepted the offer to do so before the deadline.
The company has said that combining the two businesses would bring Union Jack’s assets together with Reabold’s portfolio and create a better-capitalised business. These statements represent Reabold’s rationale for the proposed transaction.
About Reabold Resources
Reabold Resources is a London-listed investing company focused on developing gas projects, including assets intended to contribute to European energy supply.
The company also pursues consolidation opportunities within the upstream energy sector, seeking to combine assets and provide capital for their development.
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