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Reabold Resources seals purchase of additional Corallian Energy shares
StockMarketWire.com
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Oil company Reabold Resources said a a previously announced conditional offer to acquire additional Corallian Energy shares had been completed.
The offer was oversubscribed and all conditions precedent had been fulfilled.
As such, Reabold would acquire 989,439 Corallian shares, equivalent to 13.12% of Corallian from existing Corallian shareholders, and will issue 468,994,086 Reabold Shares as consideration.
Following completion of the deal, Reabold would own 49.9% of Corallian Energy.
At 9:07am: (LON:RBD) Reabold Resources Plc share price was 0p at 0.58p
Story provided by StockMarketWire.com
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