New directors of Union Jack Oil will give their views next week on the proposed takeover by Reabold Resources, according to a statement to investors.

Craig Howie and John Americanos replaced the previous directors at a general meeting last month (24 August 2026).

They told shareholders on Friday (4 September 2026) the Union Jack board was “considering its position” on the Reabold Resources offer. The statement added:

[the board] “would set out its views, together with the independent financial advice it had received, in a circular to be published during the course of the week commencing [Monday] u7 September 2026.”

Two crucial dates in the offer process have been reset, Union Jack also said.

It said day 60 – the latest date by which the conditions of the offer must be satisfied or waived) – would be reset to the 21^st day following publication of the Union Jack circular. Day 46, the latest date on which Reabold may publish a revised offer, would also be reset.

The Union Jack statement followed an announcement from Reabold Resources (also on 4 September 2026) on support for the takeover bid. Reabold said it had received acceptance from 5.70% of the Union Jack shareholding by day 35 of the offer.

In the UK, Union Jack has interests in the Wressle oil site in North Lincolnshire and the West Newton oil and gas field in East Yorkshire.