SoFi CEO enters prepaid forward contract on 1.5 million shares
LONDON - Reabold (LON:RBDR) Resources plc, an investment entity focused on European energy projects, announced today that it has converted £500,000 of convertible loan notes into equity in LNEnergy Limited (LNE). The conversion results in Reabold owning approximately 45.1% of LNE’s expanded share capital, with the transaction involving the issuance of 374 ordinary shares at an average price of £1,350 per share.
This strategic move follows LNE’s acquisition of LNEnergy S.r.l., the entity with a 90% interest in the Colle Santo gas field located in Italy’s Abruzzo region, as revealed on March 26, 2025. LNEnergy S.r.l. is currently in the process of securing regulatory approval to develop the gas field, which is considered ready for development with two production wells already drilled and tested.
The Colle Santo gas field is recognized as a significant gas reserve, with an estimated 65 billion cubic feet (Bcf) of 2P reserves, according to a September 2022 estimate by RPS. LNEnergy projects that once operational, the field could generate approximately €11-12 million in annual gross post-tax free cash flow.
Reabold’s investment strategy targets low-risk, near-term projects with substantial potential for valuation increase and a clear plan for monetization. The company aims to return proceeds from such investments to shareholders and reinvest in further growth projects.
The information presented in this article is based on a press release statement from Reabold Resources plc.
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