Reabold Resources notes the speculation in a recent website report and confirms that it has received an unsolicited approach from Kamran Sattar on behalf of Portillion SPV O&G (which, whilst no such company of that name is incorporated in the United Kingdom, the Company believes is an affiliate of Portillion Capital Limited), which may or may not lead to an offer being made for the entire issued and to be issued ordinary share capital of the Company. This highly preliminary approach was made yesterday at 4.46 p.m. (London time) via a succinct email, with no details included, save for it referring to a possible offer price at a 10% premium to yesterday's closing price, implying a value of 0.2035 pence per ordinary share of 0.1 pence each, based on the middle market closing price of an Ordinary Share.

Even in the absence of further information, the Board believes that the Possible Offer Price significantly undervalues Reabold's investment portfolio, the Company as a whole, and its future prospects. 

KeyFacts Energy: Reabold Resources UK country profile