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
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
