Reabold Resources PLC (AIM:RBD) is facing another shareholder vote to replace the board by a group of dissident shareholders.
The oil group defeated a similar coup in October 2022 noting that it is Kamran Sattar, the driving force behind that attempt, who has called for the vote this time.
Sattar wants himself and three other directors appointed with all existing directors, including co-chief executives Sachin Oza and Stephen Williams, removed.
A requisition notice was signed by shareholders speaking for 7.84% of the share capital, Reabold said in a statement.
In March, Reabold received an approach from Satter on behalf of Portillion SPV O&G, with the approach dropped in April.
Reabold’s directors urged shareholders to take no action.
“The requisitioning shareholders are seeking to gain control of Reabold, its operational asset base and its cash without paying a control premium,” it added.