|
Reabold Resources PLC - London-based oil and gas company with projects in the UK, US and Romania - Launches £750,000 share buyback programme as part of its plan to return £4 million to shareholders upon the receipt of £9.5 million from Shell, relating to its sale of the Victory asset. Says it decided to accelerate the return through the £750,000 buyback, which it says is an attractive investment due to its current market value. Chief Executive Stephen Willaims says a high level of confidence in its West Newton target, ‘combined with the exciting and highly material potential we have identified at Crawberry Hill, and the confirmation of the prospectivity of the North Sea assets as confirmed by the CPR, is reflected in today’s announcement that we are beginning the process of returning excess cash to shareholders by undertaking an initial up to £750,000 share buyback.’ Current stock price: 0.20 pence each, up 8.0% on Friday afternoon in London 12-month change: down 40% Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
