Circular published for the new board’s views on and rejection of the £6.14 million all-share offer for Union Jack Oil by Reabold
September 2026
Union Jack Oil plc is an LSE AIM listed UK-based oil and gas exploration and production company.
Its business focuses on developing and producing oil and gas from onshore UK assets, with a particular emphasis on the East Midlands.
Reabold Resources plc is an LSE AIM listed investing company investing in the exploration and production sector.
The Company’s investing policy is to acquire direct and indirect interests in exploration and producing projects and assets in the natural resources sector, and consideration is currently given to investment opportunities anywhere in the world.
On 1 July 2026, the Board of Reabold announced a recommended all-share offer for the entire issued and to be issued ordinary share capital of Union Jack.
On 29 July 2026, Reabold further announced that the offer document containing the full terms and conditions of the offer and the procedures for acceptance of the Offer had been published.
On 24 August 2026, Union Jack announced that, at the requisitioned General Meeting, all of the resolutions set out in the notice of requisitioned GM announced on 27 July 2026 had been duly passed. As a result of the passing of the resolutions, David Bramhill, Joseph O’Farrell and Dr Zac Phillips were removed from the board with immediate effect and Craig Howie and John Americanos were appointed to the board with immediate effect.
On 4 September 2026, the new board issued a statement that they had commenced a detailed review of the Company’s assets, liabilities and the Company’s strategic and financial position, including considering its position with respect to the offer and the alternatives available to the Company and its shareholders.
On 11 September 2026, the new board further announced their views on and rejection of the all-share offer for Union Jack by Reabold.
Publication of Rejection Circular
The Perivan shareholder communications team was delighted to work with Strand Hanson who acted as Financial Adviser and Rule 3 Adviser to Union Jack on the rejection circular which was successfully completed and posted to qualifying shareholders on 11 September 2026.
Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.