09:53 AM EDT, 09/04/2026 (MT Newswires) -- Union Jack Oil's (UJO.L) newly appointed board started a detailed review of the company's position and alternatives with respect to Reabold Resources' (RBD.L) all-share offer for the company, according to a Friday filing. The review, which also covers Union Jack's assets, liabilities, and strategic and financial position, follows the oil and gas company's requisitioned general meeting on Aug. 24, where shareholders voted to replace certain board members. The new board expects to release its view and independent financial advice during the week of Sept. 7. In July, Union Jack said its old board had agreed to oil and gas-focused investor Reabold's offer of 0.051 new Reabold share for every Union Jack share held, valuing the target's share capital at 6.1 million pounds sterling on a fully diluted basis.

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