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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.|
Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets in Tunisia, South-East Asia and the UK, announces that Mr. Chris Pitman is relinquishing his role as Chief Executive Officer of the Company and will now focus on sourcing and developing new business opportunities particularly in respect of the Middle East and Africa regions where he has considerable previous experience. This is a strategic decision made by the Board to ensure the Company continues to deliver new attractive upstream assets. Chris Pitman continues to serve as a director of the Company.
Until further notice, Mr. Bolhassan Di, Non-Executive Chairman of the Company, will assume the role of the Company’s interim Chief Executive Officer. The Board intends to recruit a new CEO as soon as practicable and expects to complete this within the next 3 months.
Bolhassan Di, Chairman of the Company, commented:
“The Upland Board wishes to thank Chris Pitman for stepping up as CEO on short notice in early October last year. Chris will now focus on sourcing and developing specific new opportunities for Upland, with myself acting as interim CEO from today. Chris has already identified a number of exciting plays. We look forward to providing shareholders with further updates in due course and also in respect of our activities in the UK, Tunisia, Sarawak and Brunei.”.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information, please contact:
|Upland Resources Limited||www.uplandres.com|
|Bolhassan Di, Interim, CEO||Tel: +44 (0) 7891 677441
|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