Union Jack Oil (LON:UJO) stock climbs after Reabold offer puts focus on asset values
Union Jack Oil plc jumped 14.29% to 4.00 pence as of 10:24 BST on Tuesday, according to delayed data. Trading was very light: only 10,410 shares moved, about 3% of its average day. At 4p, that’s £416 worth of stock before costs. AIM was open at that time, with its regular session running from 0800 to 1630 BST. The price move comes with Reabold Resources plc floating a possible all-share offer. For Union Jack holders, the real issue isn't a cash premium. It’s the swap ratio between two small oil and gas firms, both trading at about a third of book value.