|NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN|
|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.|
Further to the Company’s announcement on 31 January 2018, the Board of Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that the subscription by Tune Assets Limited for 74,074,074 new shares of no par value in the Company (the “Subscription Shares”) at 1.35p per share in cash to raise £1,000,000 (before expenses) for the Company, was completed this morning. Completion took place on the admission of the Subscription Shares to listing on the Official List (standard listing segment) of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities at 8.00am this morning.
The Subscription Shares represent 16.2% of the Company’s enlarged issued share capital.
Total Voting Rights
In accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, the Company announces that it has 457,242,705 shares of no par value in issue, none of which are held in treasury. Therefore, the total number of voting rights in the Company is 457,242,705.
The above figure of 457,242,705 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse.
For further information, please contact:
|Upland Resources Limited||www.uplandres.com|
|Steve Staley, CEO||Tel: 07704 974784
|Optiva Securities Limited|
|Jeremy King (Corporate Finance)||Tel: 020 3137 1904
|Christian Dennis (Corporate Broker)||Tel: 020 3137 1903
|Ben Brewerton/Molly Stewart||Tel: +44 (0) 20 3727 1708
|Sasha Sethi||Tel: +44 (0)7891 677441
Upland is an upstream oil & gas company whose highly experienced management team has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercial skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc.