Upland Resources Share Discussion Threads

[bobonumber1] 25/10/2023 17:57

Sorry, I disagree. He cannot purchase shares privately for himself or family knowing that his company or whom he represents intends to make a bid. However, he can purchase on the open market if he is acting for himself or on behalf of the company. Hence when a entity or company cross the 30 percent threshold, they must make an offer for the company. Buying on the open market also gives the offeree more voting power to force the board to accept a bid.

[oilisgold] 25/10/2023 17:41

PROBLEM is a lot of investors /traders are in for very short trades. If it doesnt work out then panic selling starts. Reading the RNS its clear. Its very simple. However, armchair CEOs on this board are many. Some are retired unemployed and just bored. There is a reason why they called armchair CEOs. Best to ignore them

[oilisgold] 25/10/2023 16:46

Fingers crossed. Friday 17th will be key as weekend. Its honna be very exciting week.

[neo26] 25/10/2023 16:01

Of course they can buy stock

[pwhite73] 25/10/2023 15:29

bobonumber1 - Because they are not allowed to buy shares when they have an immediate intention to bid for the whole company. Its tantamount to insider trading. The financial gain for them is that they don't have to pay 14p for all the shares only the ones they don't own. UPL clearly stated the offer of 14p was for all the issued and to be issued share capital.

[bobonumber1] 25/10/2023 15:24

Why would they not have at least got to 10% in the open market before coming in with an offer ? It does not make sense and imo it's all a bit fishy.

[katsy] 25/10/2023 15:06

The alleged bid is informal, so in theory nothing is in writing. So when 20th November comes and nothing comes of this alleged bid, nobody will be none the wiser.

[loglorry1] 25/10/2023 14:52

Zengas if SEC were serious they could just bid for the license themselves directly for <£5m and have £160m to spend exploring. Since UPL are pennyless they couldn't outbid them. It's all just silly.

[zengas] 25/10/2023 14:44

Oilisgold, strategy or not, they also need cash imo to pay for what i have mentioned.

Heaven forbid on unequivocally dismissing 14p, they choose to try and raise new capital much less than that ie 2-3-4-5p while its in investors minds that someone was prepared to pay 14p and think they're getting a bargain because they think it will be worth more than 14p on the longer term - because of the company's say so.

SS but in that case surely they would only buy UPL if they were in possession of a PSC and as yet are not. In addition what has UPL paid for the PSC - nothing yet - but will they have to pay xxx amount from the 14p to the government ??

More questions than answers im afraid.

[ssrover] 25/10/2023 14:43

why would it bankrupt many the share price was 3p before a bid!

ZENGAS,Its called strategy. You never accept the first bid. The bid has to be formal. The reason you are seeing a drop in share price is also due to bid not being formal. When the bid becomes formal, the share price gets close to the offer price. The market currently is not pricing in any offer. Also we had warrants hitting the market. Like i said we have untill 20th November. It will either make many investors very rich or bankrupt many

[pwhite73] 25/10/2023 14:42

Not entertaining, educating. Most of the posters you come against are third rate. Not me.

[loglorry1] 25/10/2023 14:39

LOL you are a laugh a minute PWhite. Keep it up very entertaining.

[oilisgold] 25/10/2023 14:38

ZENGAS,Its called strategy. You never accept the first bid. The bid has to be formal. The reason you are seeing a drop in share price is also due to bid not being formal. When the bid becomes formal, the share price gets close to the offer price. The market currently is not pricing in any offer. Also we had warrants hitting the market. Like i said we have untill 20th November. It will either make many investors very rich or bankrupt many

[pwhite73] 25/10/2023 14:34

loglorry1 - "I'd have thought *IF* the bid was real then not accepting it would be a sure fire way to lose their jobs!"

You can't just remove the board. One of the two major shareholders would need to call an EGM and propose resolutions to remove the board. However they would not have to do this because if the offer was real SEC Capital would be back with a firm offer for which the shareholders would accept. The board hopes that by stating the bid significantly undervalues the company SEC Capital would backdown from getting involved in a hostile bid which is what it would effectively be if the board reject their 14p offer.

[oilisgold] 25/10/2023 14:34

Fear has been created and this has panicked small investors like us. One of the strategies when shorting a stock is to employ someone just for social Media and these boards and results are normally excellant

[zengas] 25/10/2023 14:33

It doesn't add up to dismiss it and as LogLorry says a surefire way to lose your job would be to dismiss a 600% premium after 9 years of nothing considering 5X dilution to original holders.

Would we be looking at $30-50m needed here for PSC payment, 2-3 wells, say 500 km 3D which is under 9% of the block in the year ahead going on as is ?

All it has is 456 km total lines total 2D. If they are 0.5 - 1km apart, you can see how little coverage there is on a 6500 km block.

There's no reason why they they shouldn't bite the hand off someone offerring 10p never mind 14p. They could cash out and set up another listed company and stress how successful they were at a 900% - 1300% return since listing at 1p.

[oilisgold] 25/10/2023 14:31

20th November is the day for many investors now. From experience if the bidder was to make another bid it will not go down to the wire. I say that week will be huge for UPL investors. If you bought around 5 to 8p then i suggest just stay put and ignore these boards. You will only find here armchair CEOs , shorters , derampers and rampers.

If we do get a formal offer , which i believe we will, it chould get the share price closer to offer price. Its tough but the rewards are worth the risk.

[pwhite73] 25/10/2023 14:24

truant2tb1 - "PWhite At what point do you accept there is no genuine bid?"

When the company says so. The fall in the share price hasn't got much further to go. Prior to bid news it was at 3p. So warrant holders that have exercised but not sold yet would be saying to themselves well I could have got 3p last week so I might as well hold.

Furthermore if you look at the graph you will see the share price had been rising significantly since August so the market was clearly rerating the company based on existing news prior to the bid.

[loglorry1] 25/10/2023 14:19

I'd have thought *IF* the bid was real then not accepting it would be a sure fire way to lose their jobs! Their shareholders would quickly dispatch them for incompetance.

Conversely biting the offerors hand off, cashing out and making all shareholdes extremely happy would be a way to ensure they could walk into any new job they wanted or stay as highly paid consultants under SEC Capital. SEC Capital obviously have a magic money tree as they are willing to pay £175m for almost nothing. I can imagine they'll pay their new staff very well.

[supercity] 25/10/2023 14:14

They announce a bid at 14p which they rejected.One day later the share is 3.5p to sell.Even the most optimistic share holder can surely see this isn't right.The share would not be 3.5p to sell - intriguing to see how it plays out but it smells extremely dodgy/fake looking at the price action.Just doesn't make sense.