NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
27 October 2023
UPLAND RESOURCES LIMITED
(“Upland” or 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 Bolhassan Di, Chairman and CEO Gerard Murray, COO | Tel: +60 198 861 919 [email protected] [email protected] |
| Optiva Securities – Broker Christian Dennis (Corporate Broker) | Tel: +44 (0)20 3137 1903 [email protected] www.optivasecurities.com |
Important Notices
This announcement is not intended to, and does not, constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction, whether pursuant to this announcement or otherwise. The release, distribution or publication of this announcement in jurisdictions other than the United Kingdom may be restricted by the laws of the relevant jurisdictions and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe, any applicable requirements. The information disclosed in this announcement may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.