Reabold takeover fails
Reabold Resources has announced its takeover offer for Union Jack Oil has lapsed.
Reabold Resources has announced its takeover offer for Union Jack Oil has lapsed.
The new board of Union Jack Oil has repeated its recommendation to shareholders to reject the takeover bid by Reabold Resources.
All three Union Jack Oil directors, David Bramhill, Joseph O’Farrell and Zac Phillips, have been removed immediately from the board, the company announced today (24 August 2026).
Union Jack, which has interests at Wressle and West Newton, has recommended shareholders vote against a proposal to remove the board.
Shareholders opposed to the takeover of Union Jack Oil are seeking a general meeting to remove three directors from the board.