Reabold (LON: RBD) bolsters its management by appointing a new Chief Financial Officer

Highlights

• Reabold Resources appoints Mr Chris Connolly as the new CFO for the Company.
• Mr Connolly is an experienced resource industry professional with an extensive experience of over 15 years.
• Recently, Reabold announced its intention to acquire 100% interest in Corallian’s non-Victory Licences.

Reabold Resources PLC (LON: RBD), the upstream oil and gas investment firm, has announced the appointment of Mr Chris Connolly as Chief Financial Officer of the company. The appointment is strategic in nature, as it came shortly after the announcement of the signing of the conditional sale and purchase agreement (SPA) for the acquisition of Corallian’s non-Victory Licences.

Related read: Reabold’s (LSE:RBD) subsidiary Corallian receives acquisition offer

The acquisition will mark an important milestone for the company as it will increase the resource potential significantly.

Commenting on the appointment, Reabold’s Co-CEO Mr Stephen Williams said, “We are delighted to welcome Chris to Reabold. His wealth of transaction and reporting experience across a wide range of premier resource companies will be of significant value to the company during an exciting period for our business.”

Mr Connolly is a professional chartered accountant and has extensive experience in the resource industry. Prior to Reabold, he was working with EnQuest PLC as Group Financial Controller. At EnQuest, he led and managed all internal and external reporting for the company and headed Group Finance, Group Treasury, and Group Systems.

Related read: Reabold Resources and Its Strategic Increase in Corallian Stake

Mr Connolly played a key role in EnQuest's acquisitions project teams and presided over all technical accounting transactions.

Mr Connolly began his career in the resources sector at Ernst & Young LLP. Later he progressed his career with Canamens Energy Limited, De Beers Group, and Ophir Energy.

In academics, Mr Connolly graduated from the University of Bristol in 2005.

"I am delighted to be joining Reabold during a key period for many of our assets, with the Corallian and California deals progressing positively. I look forward to building on the strong foundation that Sachin and Stephen have built and supporting the growth ambitions of the company in the months and years ahead", Mr Connolly reacted.     

Related read: Reabold (LON:RBD) moving on the right track on West Newton Project

Stock price performance

Reabold Resources plc’s stocks were in a jubilant mood with the announcement of Chris Connolly as the new CFO for the company and surged over 8 per cent to trade at GBX 0.33 at 12:20 PM GMT on 13 May 2022, with a good spike in volume. The stock has given a return of around 93 per cent since the start of the year.