Upland Resources Share Discussion Threads

[epifanio1] 23/10/2023 18:33

Best to bet the farm on it then... and the kids life savings in that case lol. jnk.

[throwingmuses] 23/10/2023 18:21

What crew pumping? Guys like you are in fantasy land. Most of the holders here have been in for years and it's been a very quiet board, not that you'd know of course. Too many people spewing nonsense here that have never been holders and never uttered a word on the board before.

This 14p WOULD NOT be accepted if it went to PI's. The cove boys are around 20% and have said a big fat NO. Every long term holder I've heard speak on this has said no. It's a very easy 50% plus rejection from my count. But of course it won't come to that because the company know it's derisory. All we have to do is wait for the PSC and resource size, then it'll become obvious why 14p was bid, and obvious why it was rejected. Not long to wait at all. The majors in the area will all know this block very well, and as I said before, this was a sneaky bid coming out before PIs know just what we have there. The offer will probably get revised, will it be enough? Let's wait and see, but I'd prefer to have a clearer picture of what's there before making a decision.

[epifanio1] 23/10/2023 17:48

Reminds me of that time back in 2015 when 88e got ramped from 0.4p to 4.5p all the while the BOD where shouting 50p, 50p..!!! While in the background they were conducting a 2p placing and paying themselves a handsome wage plus warrants from the proceeds.... see the resemblances...? Same brokers, same crew pumping and some of the same board members

[neo26] 23/10/2023 16:59

If they make official offer, the shareholders will accept.

[haggismchaggis] 23/10/2023 16:41

The offer at 14p rejected. Do SEC make it a 14p official offer and see if shareholders will accept it, or do they offer more and hope the BoD accept it? I'm sure they will do one or the other, soon

[tyler90] 23/10/2023 16:35

Wow! Just reading through a few recent RNS's will reveal that you are incorrect in a lot of what you have writtenYears away yet they are negotiating for an oil rig...forward planning or what!

[eddie jackson] 23/10/2023 15:48

Cheers for headsup on MAST ( have just put half my UPL profits in ) easy bagger

[pwhite73] 23/10/2023 15:31

richsif - "Bolhassen owns 37M shares so of course a buy out at fair value is his ultimate goal."

Yes but those are his wages accumulated over many years. How management are paying themselves is in shares. If you go to the accounts for year end 2022 you'll see Bolhassen is earning only £25k a year. If their contracts are terminated then the share payments stop immediately and his twelve month payoff is only £25k.

There is no incentive for a buyout at 14p or any price but to accumulate many more shares over the years in lieu of wages. Bolhassen is only one director there are others much younger.

[actybod] 23/10/2023 15:12

Been here 5 years I think - I'm cracking the flags today :-)

[richsif] 23/10/2023 15:12

PWhite - Which management are you actually talking about here? Bolhassen owns 37M shares so of course a buy out at fair value is his ultimate goal.

[neo26] 23/10/2023 15:03

Go on email company, PWhite. :)Let them know shareholders have a right to vote on it.I think upl board maybe looking for 20p which they will not get.

[xb6] 23/10/2023 15:01

eddie

Come over MAST BB and PM me, i have some tasty intel on the Mast deal :-)

[pwhite73] 23/10/2023 14:58

richsif - "PWhite - their payoff package is a buyout."

No its not because 77% of the shares are with PIs and the two major shareholders. If they win the vote they can terminate the management's contract and give them twelve months notice which I think is the maximum they have to give.

On Friday the company had a market cap of £35 million. The Offeror is offering £167 million and they have the audacity to claim it underrepresents the potential value of the company.

[neo26] 23/10/2023 14:55

Does appear to be large buyer in background.

[iceagefarmer] 23/10/2023 14:53

what are the best assets of this company..is it sarawak or north sea or the other one?

[neo26] 23/10/2023 14:50

PWhite is saying a formal offer will be made.

[richsif] 23/10/2023 14:46

PWhite - their payoff package is a buyout. Jeeez. When they get a fair offer they instantly become very wealthy alongside many other holders. Have a look at their ages, why would they not want a buyout.

[pwhite73] 23/10/2023 14:39

richsif - " The end goal for the BOD will be a buy out. FACT"

Wrong. The end goal of the board is their jobs. How much the suitor pays for the company is nothing to do with them. They would only find attractive a ridiculous payoff package for themselves which would not be forthcoming.

[neo26] 23/10/2023 14:36

So what does that mean then? Dont make an offer?

[richsif] 23/10/2023 14:31

PWhite - you are showing a compete lack of knowledge of the company with that statement. The end goal for the BOD will be a buy out. FACT

[pwhite73] 23/10/2023 14:28

neo26 - "Board rejected 14p so they want more."

No they don't want more. The board would reject a 140p offer. What the board want is to keep their jobs.

[soulsauce] 23/10/2023 14:21

The board have been telling us for months in Rns that the current share price materially undervalued the company so they probably know what the board know about the block.
Wish I has listened more intently and loaded more onto the cart.