Union Jack Oil Urges Investors to Reject Board Overhaul Bid Proposals at Requisitioned General Meeting

07:42 AM EDT, 07/27/2026 (MT Newswires) -- Union Jack Oil (UJO.L) urged shareholders to vote against resolutions to replace its board, saying the requisition was "misguided" and "ill-timed" as it was submitted just six days after Reabold Resources (RBD.L) announced its all-share takeover offer for the company. The oil and gas company said Monday its shareholders holding 20.7 million shares, or 14.09% of its total voting rights, requisitioned a general meeting on Aug. 24 to consider resolutions to overhaul the board. The board said the requisitioners are "simply being opportunistic" by attempting to replace the board during the offer process. Union Jack Oil also plans to reconvene its adjourned annual general meeting on Aug. 24.