Reabold Resources shareholders have voted against a second attempt to oust the company’s management and board.
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.
The unrest that has dogged North Sea firm Reabold Resources (LON: RBD) for several months now appears to be showing little sign of letting up.
As it stands, Reabold says the offer “significantly undervalues” its investment portfolio, the company as a whole, and its future prospects.
Shareholders in Reabold Resources have put their faith in the North Sea firm’s board to deliver on their promises, snubbing an attempt to replace them.