REG - Upland Resources Ltd - Request for Suspension

Upland ResourcesAnnouncement

01/05/2024 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240501:nRSA7720Ma&default-theme=true

RNS Number : 7720M  Upland Resources Limited  01 May 2024

 

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.

 

01 May 2024

 

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

 

Update on publication of Annual Report and financial results for the period
ended 31 December 2023 - temporary suspension of listing from 1 May 2024

Upland provides the following update in relation to its Annual Report and
Financial Statements for its 18 month financial period ended 31 December 2023
(the "2023 Annual Report").

As stipulated by the applicable rules of the Financial Conduct Authority (the
"FCA"), the Company is required to publish its audited Annual Report by 30
April 2024. However, PKF Littlejohn LLP, the Company's auditors, have
requested additional time beyond the originally planned timetable to complete
their audit. Whilst the audit process has yet to be concluded, the Directors
have been advised by PKF Littlejohn LLP that the audit is substantially
complete and that there are no material audit issues causing this delay.

Accordingly, the Company has requested the temporary Suspension of listing by
the FCA (as well as trading on the Main Market of the London Stock Exchange)
with effect from the start of trading on Wednesday 1 May 2024 (the
"Suspension").

PKF Littlejohn LLP has informed the Company that the audit will be completed
in the near term. As such, the Company will publish its 2023 Annual Report
immediately after completion of the Audit, following which the Company will
apply for the Suspension to be lifted. A further announcement in this respect
will be made in due course.

Bolhassan Di, Upland Chairman and CEO commented:

"We regret any inconvenience caused to our shareholders due to this delay, the
extension of the Company's year-end to 31 December, as part of aligning with
our related entity in Sarawak, and the audit of an 18-month period as a result
has meant that some additional time beyond the originally planned timetable
for completion of audit is necessary. We will work closely with our advisors
to facilitate the completion of the audit process as soon as possible and to
apply to lift the Suspension at the first opportunity.

Shareholders should note that we are progressing and finalising work-streams
related to licensing arrangements and joint venture discussions. We will be
updating the market on these developments in the near-term. "

 

**ENDS**

 

 

 

For further information, please contact:

 

 Upland Resources Limited         Tel: +60 198 861 919

 Bolhassan Di, Chairman and CEO   bolhassan@uplandbigoil.com.my (mailto:bolhassan@uplandbigoil.com.my)

 Gerry Murray, COO                gerry.murray@upland.energy

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCQKDBNABKKFPK