Reabold Resources PLC (AIM:RBD) has increased its stake in LNEnergy Limited to approximately 47.4% through a £153,600 investment. The acquisition, made via a rights issue, adds a further 1.2% interest through the purchase of 128 new shares priced at £1,200 each.
The move comes shortly after Reabold entered a conditional agreement with Beacon Energy PLC (AIM:BCE) to divest its entire holding in LNEnergy. The first phase of the sale, involving nearly half of Reabold's LNEnergy interest, is expected to complete in November 2025.
LNEnergy’s key asset is a 90% interest in the Colle Santo gas field, held through its wholly owned Italian subsidiary. The field, located in Italy’s Abruzzo region, is estimated to contain 65 billion cubic feet of gas reserves, according to a 2022 RPS estimate.