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Reabold Resources PLC - London-based exploration & production-focused investment company - Says ISS reiterates the board's recommendation to vote against all of the proposed resolutions from requisitioning shareholders.
The requisitioning shareholders own 6.9% of Reabold's issued share capital, and have convened a general meeting for November 17 to consider resolutions to remove the entire board of directors and to replace them with four new proposed directors of their own choosing.
ISS concludes that the requisitioners' allegations directed at the board lack any detail and fail to make a compelling case for changes. It adds that their business plan was disclosed too close to the meeting date.
Current stock price: 0.25 pence, down 0.9% on Monday
12-month change: up 24%
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