Last checked at 26 Sep 2023 10:00
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This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.
26 September 2023
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Exercise of Options - Bolhassan Di
Upland Resources Limited (LSE: UPL) is pleased to announce that it received notification on 23rd September 2023 that the Company's Chairman and CEO Bolhassan Di has exercised 10,000,000 share options over Ordinary Shares in the Company at an exercise price of 0.4p.
As a result, the Company will issue 10,000,000 new Ordinary Shares in the Company to Mr. Di for a total consideration of £40,000.
Accordingly, Mr Di's beneficial interest in Ordinary Shares has increased by 10,000,000 Ordinary Shares and now comprises 37,384,622 Ordinary Shares, representing approximately 3.34% of the Company's issued share capital.
Total voting rights
Following the Option Exercise, the Company's total number of Ordinary Shares in issue is 1,118,157,741. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Applications will be made to the Financial Conduct Authority and to the London Stock Exchange for all the 10,000,000 new Ordinary Shares to be admitted to listing on the Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities in due course. It is expected that Admission will become effective at 8.00 a.m. on 1 November 2023.
The following notifications, made pursuant to Article 19 of the Market Abuse Regulation, provide further details.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Bolhassan Di | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chairman and CEO | ||||
b) | Initial notification/Amendment | Amendment | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Upland Resources Limited | ||||
b) | LEI | 213800MRG7ISJEK8YA38 | ||||
4 | Details of the transaction: section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a) | Description of the financial instrument, type of instrument Identification code |
JE00BJXN4P16 | ||||
b) | Nature of the transaction | Exercise of share options | ||||
c) | Price and volume |
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d) | Aggregated information Total |
£40,000 | ||||
e) | Date of the transaction | 23 September 2023 | ||||
f) | Place of the transaction | London | ||||
**ENDS**
For further information, please contact:
Upland Resources Limited Bolhassan Di, Chairman and CEO | Tel: +60 198 861 919 bolhassan@uplandbigoil.com.my gerry.murray@upland.energy
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Optiva Securities - Broker Christian Dennis (Corporate Broker) | Tel: +44 (0)20 3137 1903 christian.dennis@optivasecurities.com www.optivasecurities.com
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