Business
Update on Corallian and acquisition of licences
Update on Corallian and acquisition of licences.
About this update from Reabold Resources Plc
[{"type":"text","content":"\n \n \n 1 September 2022\n \n \n \n \n \n Reabold Resources plc\n \n \n \n \n \n \n \n (\"\n Reabold\n \" or the \"\n Company\n \")\n \n \n \n \n \n \n \n \n \n \n \n \n \n Update on conditional, non-binding offer for Corallian and conditional acquisition by Reabold of exploration and appraisal licences\n \n \n \n \n \n \n \n \n Reabold announces that, further to its announcement of 4 May 2022, Corallian Energy Limited (\"Corallian\") continues negotiations with the potential purchaser for the acquisition of its entire issued share capital\n (the \"Potential Sale\").\n \n \n \n \n \n As part of the Potential Sale process, Reabold had entered into a conditional sale and purchase agreement (\"SPA\") to acquire Corallian's working interest in all the non-Victory licences within the Corallian portfolio (the \"\n \n Acquisition\n \n \"). The SPA gave the right to both Corallian and Reabold to terminate the SPA if the Potential Sale had not completed by 31 August 2022. Given negotiations with regard to the Potential Sale remain ongoing, neither Reabold nor Corallian intend to terminate the SPA.\n \n \n \n \n \n A further update will be provided in due course.\n \n \n \n Regulatory Information\n \n \n \n This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended (\"UK MAR\").\n \n \n \n \n \n \n \n \n For further information, contact:\n \n \n \n \n \n \n \n \n \n Reabold Resources plc\n \n \n Sachin Oza\n \n \n Stephen Williams\n \n \n \n \n \n \n \n c/o Camarco\n \n \n +44 (0) 20 3757 4980\n \n \n \n \n \n \n \n \n \n \n \n \n Strand Hanson Limited - Nominated & Financial Adviser\n \n \n James Spinney\n \n \n Rory Murphy\n \n \n James Dance\n \n \n \n \n \n Stifel Nicolaus Europe Limited - Joint Broker\n \n \n Callum Stewart\n \n \n Simon Mensley\n \n \n Ashton Clanfield\n \n \n \n \n \n Panmure Gordon - Joint Broker\n \n \n Hugh Rich\n \n \n Nick Lovering\n \n \n \n \n \n \n \n +44 (0) 20 7409 3494\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n +44 (0) 20 7710 7600\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ...