Management Subscription and Share Options
27/02/2023 07:00
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RNS Number : 0639R Upland Resources Limited 27 February 2023
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CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN
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RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF UPLAND
RESOURCES LIMITED.
27 February 2023
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Management Subscription and Share Options
Upland Resources Limited (LSE: UPL) is pleased to announce (further to the
publication of the Prospectus approved by the Financial Conduct Authority on
23 February 2023) the following details concerning the subscription ("the
Management Subscription") by certain directors and managers for new ordinary
shares ("Ordinary Shares") at a price of 0.6p per new ordinary share.
Director or PDMR Number of New Ordinary Shares subscribed for Value of New Ordinary Shares subscribed for Number of Ordinary Shares held on Admission % Share Capital held on Admission Number of Warrants held on Admission
Bolhassan Di 4,166,667 £25,000 20,801,287 1.89% 2,083,333
Gerard Murray 1,250,000 £7,500 1,350,000 0.12% 625,000
John Forrest 1,250,000 £7,500 1,750,000 0.16% 625,000
Prof. A Hurst 833,333 £5,000 833,333 0.08% 416,667
TOTAL 7,500,000 45,000 24,734,620 2.25% 3,750,000
As part of the Management Subscription the Company will also issue warrants on
the same terms as the fundraise notification ("the Fundraise") announced on 20
February 2023 this being issue of one warrant over an Ordinary Share for every
two Ordinary Shares issued in the Management Subscription. These warrants
will be exercisable at a price of 1.20p ("Warrant Price") for a period of two
years from grant. Ordinary Shares and warrants issued in respect of the
Management Subscription will be issued alongside shares and warrants from the
Fundraise which raised gross proceeds of £1,698,000 (comprising 83,333,333
placing shares, 199,666,667 subscription shares and 141,500,000 warrants). The
Company will therefore issue a total of 290,500,000 shares ("Admission
Shares") and 150,250,000 warrants on Admission.
As referenced in the Company's recent prospectus, the Company has created a
10% share option incentive plan over the Company's issued share capital on
Admission and granted options over 110,000,000 ordinary shares to certain
Directors and senior managers of the Company as detailed below. These share
options do not vest until the share price has reached 2p.
Name Options Exercise Price(p) Term
Datuk Bolhassan Di 50,000,000 .60 5 years
Aimi Nasharuddin 10,000,000 .60 5 years
Dixon Wong 10,000,000 .60 5 years
Andrew Hurst 10,000,000 .60 5 years
Gerard Murray 15,000,000 .60 5 years
John Forrest 15,000,000 .60 5 years
It is expected that Admission will become effective and that dealings in the
Admission shares on the Main Market will commence at 8.00 a.m. (London time)
on 28 February 2023.
PDMR Notification Forms are appended.
**ENDS**
For further information, please contact:
Upland Resources Limited Tel: +60 198 861 919
Bolhassan Di, Chairman and CEO bolhassan@uplandres.com (mailto:bolhassan@uplandres.com)
bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)
www.uplandres.com (http://www.uplandres.com/)
Optiva Securities - Broker Tel: +44 (0)20 3137 1903
christian.dennis@optivasecurities.com
Christian Dennis (mailto:christian.dennis@optivasecurities.com)
(Corporate Broker)
www.optivasecurities.com (http://www.optivasecurities.com/)
Flowcomms - IR Contact Tel: +44 (0)7891 677441
Sasha Sethi sasha@flowcomms.com (mailto:sasha@flowcomms.com)
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Datuk Bolhassan Di
2. Reason for the Notification
a) Position/status Non-Executive Chairman and Chief Executive Officer
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(s): 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 ordinary shares of no par value
Identification code JE00BJXN4P16
b) Nature of the Transaction Purchase of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 0.6p 4,166,667
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
London Stock Exchange
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Datuk Bolhassan Di
2. Reason for the Notification
a) Position/status Non-Executive Chairman and Chief Executive Officer
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(s): 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 Warrants, each warrant to subscribe for one ordinary share of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Grant of warrants to subscribe for new ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 1.2p 2,083,333 warrants
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Datuk Bolhassan Di
2. Reason for the Notification
a) Position/status Non-Executive Chairman and Chief Executive Officer
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 50,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Aimi Nasharuddin
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial Notification
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 10,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Dixon Wong
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial Notification
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 10,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrew Hurst
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial Notification
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(s): 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 ordinary shares of no par value
Identification code JE00BJXN4P16
b) Nature of the Transaction Purchase of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 0.6p 833,333
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
London Stock Exchange
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrew Hurst
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial Notification
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(s): 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 Warrants, each warrant to subscribe for one ordinary share of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Grant of warrants to subscribe for new ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 1.2p 416,667 warrants
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrew Hurst
2. Reason for the Notification
a) Position/status Non-Executive Director
b) Initial notification/amendment Initial Notification
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 10,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gerard Murray
2. Reason for the Notification
a) Position/status Chief Operating Officer
b) Initial notification/amendment Initial Notification
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(s): 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 ordinary shares of no par value
Identification code JE00BJXN4P16
b) Nature of the Transaction Purchase of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 0.6p 1,250,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
London Stock Exchange
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gerard Murray
2. Reason for the Notification
a) Position/status Chief Operating Officer
b) Initial notification/amendment Initial Notification
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(s): 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 Warrants, each warrant to subscribe for one ordinary share of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Grant of warrants to subscribe for new ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 1.2p 625,000 warrants
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gerard Murray
2. Reason for the Notification
a) Position/status Chief Operating Officer
b) Initial notification/amendment Initial Notification
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 15,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Charles Forrest
2. Reason for the Notification
a) Position/status Chief Financial Officer
b) Initial notification/amendment Initial Notification
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(s): 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 ordinary shares of no par value
Identification code JE00BJXN4P16
b) Nature of the Transaction Purchase of ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 0.6p 1,250,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction London Stock Exchange
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
London Stock Exchange
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Charles Forrest
2. Reason for the Notification
a) Position/status Chief Financial Officer
b) Initial notification/amendment Initial Notification
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(s): 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 Warrants, each warrant to subscribe for one ordinary share of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Grant of warrants to subscribe for new ordinary shares
c) Price(s) and volume(s)
Price(s) Volume(s)
1. 1.2p 625,000 warrants
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name John Charles Forrest
2. Reason for the Notification
a) Position/status Chief Financial Officer
b) Initial notification/amendment Initial Notification
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(s): 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 Issue of options over ordinary shares of no par value
Identification code JE00BJXN4P16 (ordinary shares)
b) Nature of the Transaction Award of options
c) Price(s) and volume(s)
Price(s) Volume(s)
1. Exercise price of .60p per share 15,000,000
d) Aggregated information Single transactions as in 4 c) above
Aggregated volume Price
e) Date of the transactions 26 February 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Aggregated volume Price
Single transactions as in 4 c) above
e)
Date of the transactions
26 February 2023
f)
Place of the transaction
Outside a trading venue
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