Reabold, the AIM investing company which focuses on investments in upstream oil and gas projects, announces that it has posted to shareholders a formal notice of AGM and explanatory circular ('the Circular'), together with a form of proxy.
The AGM is to be held at the offices of
The AGM this year will be run as a closed meeting and the Company's shareholders ('the Shareholders') will not be able to attend due to restrictions on personal movement and social distancing measures implemented by the
Shareholders are therefore strongly encouraged to submit a proxy vote as soon as possible but, in any event, to be received not later than at
Proposed Changes to Articles
The Company proposes to adopt revised articles of association ('New Articles') to allow it to more efficiently deal with general meetings, including annual general meetings, in circumstances where physical meetings are prevented due to extreme events such as the current unprecedented circumstances caused by COVID-19. It is not the Board's intention to make use of the changes being proposed to the existing articles of association ('Existing Articles'), however the changes provide new definitions of physical, electronic and hybrid meetings to permit flexibility in the holding of future shareholder meetings in times where gatherings of large numbers of people are prohibited or limited, therefore, making allowance for remote attendance and the casting of votes by shareholders via virtual meetings. The changes to the Company's Existing Articles are proposed as special resolution number 7 as set out in the notice of AGM. No other changes are being proposed in the New Articles.
Contact:
Tel: +44 (0) 20 3757 4980
Notes to Editors
As an investor in upstream oil & gas projects, Reabold aims to create value from each project by investing in undervalued, low-risk, near-term upstream oil & gas projects and by identifying a clear exit plan prior to investment.
Reabold's long term strategy is to re-invest capital made through its investments into larger projects in order to grow the Company. Reabold aims to gain exposure to assets with limited downside and high potential upside, capitalising on the value created between the entry stage and exit point of its projects. The Company invests in projects that have limited correlation to the oil price.
Reabold has a highly-experienced management team, who possess the necessary background, knowledge and contacts to carry out the Company's strategy.
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