REG - Upland Resources Ltd - Termination of offer period

Upland ResourcesAnnouncement

27/10/2023 17:30

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RNS Number : 6078R  Upland Resources Limited  27 October 2023

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

FOR IMMEDIATE RELEASE

27 October 2023

Upland Resources Limited

(the "Company")

Termination of offer period

Further to the Company's announcements of 23 October 2023, the Board of Upland
provides an update concerning the unsolicited, very preliminary approach it
received regarding a possible offer for Upland (the "Approach") and which the
board unequivocally rejected.

The Board of Upland now advises that it has received information that has cast
significant doubt on the veracity of the Approach and identity of the
potential offeror. In particular, the Company has now received communication
from Mr William G Bollinger, the co-founder of Egerton Capital, whom the
Company was led to believe was associated with the Approach and the potential
offeror. This communication from Mr William G Bollinger has clarified that he
has no connection to the Approach or any offeror vehicle known as SEC Capital.

In light of these circumstances, the Company has agreed with the Takeover
Panel Executive that, with effect from the time of this announcement, the
offer period in respect of the Company shall be terminated, and the relevant
parties will be removed from the Disclosure Table on the Panel's website at
www.thetakeoverpanel.org.uk.

Bolhassan Di, Upland Chairman and CEO commented:

"The Upland Board is now fully committed to advancing our activities in
Sarawak, in particular completing the Joint Technical Study on Block SK334.
Focus is now firmly on finalising our work programme which leads to the next
phase of development."

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)

 Gerard Murray, COO               gerry.murray@upland.energy (mailto:gerry.murray@upland.energy)

 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/)

 

 

 

 

 

 

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