Reabold Resources shareholders have voted against a second attempt to oust the company’s management and board.
Reabold's co-CEOs warned of 'very significant' conflicts of interest in their proposed replacements, while dissenting shareholders said 'certain disaster' awaits the company without a change of strategy.
The group in question also hit back, in turn accusing the company’s leadership of being “untrustworthy” over its decision to invest in an Italian gas project.
Reabold Resources has hit back at a shareholder group’s latest attempt to oust its leadership, pointing to a series of ‘material deficiencies’ in due process.
A minority shareholder group has launched a fresh attempt to oust the leadership of North Sea oil firm Reabold Resources (AIM: RBD).
As it stands, Reabold says the offer “significantly undervalues” its investment portfolio, the company as a whole, and its future prospects.
Watch: Boxing legend Amir Khan urges shareholders to deliver knockout blow to board of North Sea firm
A rebel investor group - that is hoping to oust the board of a North Sea oil and gas company - has secured backing from an unlikely supporter.