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Reabold warns of shares suspension under new directors

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Reabold Resources plc warned it could be suspended from trading if shareholders approved proposed board directors without completion of due diligence.

NOMAD

Pershing Nominees Ltd requisitioned a general meeting, set for 10 January, on behalf of several beneficial shareholders for resolutions to remove and replace Reabold directors.

Reabold added that its nominated advisor Strand Hanson expects it would have to resign with immediate effect if shareholders approved the resolutions before it had completed due diligence.

“Should this be required, in accordance with AIM Rule 1, trading in the company’s ordinary shares on AIM would be suspended following the closing of the general meeting on Wednesday 10 January 2024.

“If a replacement nominated adviser is not appointed within one month, admission of the company’s securities to trading on AIM will be cancelled.”

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