Reabold Resources Plc (AIM:RBD) entered into a Sale and Purchase Agreement to acquire Simwell Resources Ltd for £1.2 million on September 28, 2022. The transaction is conditional on customary conditions including approval by the North Sea Transition Authority ("NSTA"). As per the SPA the Simwell will be subject to a lock-in undertaking (save for customary exceptions) in respect of (i) the Initial Consideration Shares for a period of 6 months following completion of the SPA and (ii) the Deferred Consideration Shares for a period of 6 months following the date of issue of the Deferred Consideration Shares. James Spinney, Rory Murphy and James Dance of Strand Hanson Limited acted as financial advisor to Reabold Resources Plc (AIM:RBD).

Reabold Resources Plc (AIM:RBD) completed the acquisition of Simwell Resources Ltd on January 3, 2023.