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Further to its announcement on 13 June 2018 of the proposed placing of 120,000,000 new shares of no par value in the Company at 2.5p per share (the “Placing“) to raise £3 million (before expenses), Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, is pleased to announce that the Placing was completed on admission of all the Placing Shares to listing on the UK Listing Authority’s Official List (standard listing segment) and to trading on the London Stock Exchange’s main market for listed securities (“Admission“) which became effective at 8.00 am today.
Directors’ participation
The Directors participated in the Placing and subscribed for an aggregate of 5,130,770 Placing Shares for aggregate £128,269.25 in cash (at the placing price of 2.5p per share), further details of which are set out in Part VIII (The Placing) of the Prospectus.
Total Voting Rights
Following Admission, the Company has 579,012,060 shares of no par value in issue, each with one vote per share (and none of which are held in treasury). The total number of voting rights in the Company is therefore 579,012,060. This figure of 579,012,060 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.
| Upland Resources Limited | www.upland.energy |
| Steve Staley, CEO | Tel: 07704 974784 [email protected] |
| Optiva Securities Limited | |
| Jeremy King (Corporate Finance) | Tel: 020 3137 1904 [email protected] |
| Christian Dennis (Corporate Broker) | Tel: 020 3137 1903 [email protected] |
| FTI Consulting | |
| Ben Brewerton/Molly Stewart | Tel: +44 (0) 20 3727 1708 [email protected] |
| Flowcomms Ltd | |
| Sasha Sethi | Tel: +44 (0)7891 677441 [email protected] |
| Notes |
| Upland is an upstream oil & gas company whose highly experienced management team has a track record of creating major value for shareholders in junior oil & gas companies, including Cove Energy plc. The Company has extensive technical and commercial skills and contacts, management having held senior roles in Petronas, Conoco, Shell etc. |