Upland Resources Share Discussion Threads

[richsif] 01/11/2023 10:37

PWhite

(1) An issuer must make public a half-yearly financial report covering the first six months of the financial year.
(2) The half-yearly financial report must be made public as soon as possible, but no later than three months, after the end of the period to which the report relates.
(3) An issuer must ensure that the half-yearly financial report remains available to the public for at least ten years."

Nothing in the above mentions additional obligations when extending the accounting date for a Standard Listing Company.

So...

1. We DID publish a financial report covering the FIRST six months of the financial year.
2. It was published no later than 3 months
3. It is still available

[pwhite73] 01/11/2023 10:32

richsif - "The obligations of Upland are covered under LR 14 Standard Listing"

That's correct and under LR 14.3.22 it states - "A company, whose securities are admitted to trading on a regulated market, should consider its obligations under ■ DTR 4 (Periodic financial reporting),"

And DTR 4.2.2 states - "Publication of half-yearly financial reports

(1) An issuer must make public a half-yearly financial report covering the first six months of the financial year.
(2) The half-yearly financial report must be made public as soon as possible, but no later than three months, after the end of the period to which the report relates.
(3) An issuer must ensure that the half-yearly financial report remains available to the public for at least ten years."

That they have to report interims to 30/06/2023 is now a closed topic. Its simply a question of when.

[epifanio1] 01/11/2023 10:24

Failure to publish accounts on time equals suspension. End of story.

[richsif] 01/11/2023 09:18

PWhite

LR 9.1 as you quoted does not apply to Upland.
This chapter applies to a company that has a premium listing.

The obligations of Upland are covered under LR 14 Standard Listing


The fact the Shareprohets article specifically mentions the wrong chapter (9) will undoubtedly mean a complaint is made by Upland to the FCA about its author/owner.

[pwhite73] 01/11/2023 08:18

The shares are trading so the argument that interim results have to be published on or before 31/10/2023 has been put to bed for now until there is a further updated.

What I had noticed yesterday afternoon was that the MM had stopped reporting late trades so I'm inclined to think the warrant holders that wanted to cash in are out or almost out.

[stockhunters] 01/11/2023 08:16

crazy retail buying with fake bid rumours

[loglorry1] 01/11/2023 08:04

"To me the second part suggest they can issue the second interims anytime between 30/06/2023 and 31/12/2023."

LOL!

Kemche was right you are never wrong.

[goforgold1] 01/11/2023 07:35

No RNS not good

[pwhite73] 31/10/2023 23:11

Rule 9.6.1 states “A listed company must prepare and publish a second interim report in accordance with ■ DTR 4.2 if the effect of the change in the accounting reference date is to extend the accounting period to more than 14 months.”

UPL has extended its accounting period up to 18 months.

And 9.6.2 states: “The second interim report must be prepared and published in respect of either: (1) the period up to the old accounting reference date; or (2) the period up to a date not more than six months prior to the new accounting reference date.”

To me the second part suggest they can issue the second interims anytime between 30/06/2023 and 31/12/2023.

[richsif] 31/10/2023 23:00

PWhite

As I said, point me in the direction of the evidence to suggest we need to produce a 2nd set of accounts.

As for the 4 months. It's 3 months, as per the FCA website. ''The half-yearly financial report must be made public as soon as possible, but no later than three months, after the end of the period to which the report relates.''

So that would mean the date would have been the 1st October if we had to provide these additional accounts. Which we don't.

We had to provide a report for the first 6 months (we did) and it must be within 3 months (it was)

[pwhite73] 31/10/2023 22:40

richsif

The tweet advises you that the year end audited accounts has been extended to 31/12/2023. However all listed companies must issue accounts after a 6 month trading period. They are not allowed to go for a whole year without telling shareholders and the markets what's going on.

So if the new full year is 31/12/2023 then the new half year must be 30/06/2023.

What I'm not so sure of is whether UPL has to issue within 4 months because its Standard Listing making 31/10/2023 the last date to publish or 6 months making 31/12/2023 last date to publish.

[richsif] 31/10/2023 21:24

Wrong Kevin. Best get some sleep before plod give you that 6am wake up ! Tick tock

[jaknife] 31/10/2023 21:22

Upland Resources and those pesky accounts!

The quick answer is yes, it still needs to produce accounts for the twelve months to 30 June 2023 The longer answer needs a quick refresher of the UK Listing Rules, which can be found here.

[richsif] 31/10/2023 21:20

On cue the company confirm this



Next....

[richsif] 31/10/2023 21:17

PWhite - can you show me where it mentions that a company who have changed their YE date need to send out an additional half yearly report?

Our half yearly report was issued in March. We changed our YE date to 31-Dec in July (which we can do once every 5 years). The next audited accounts will be prepared for the 18 months ending 31 December 2023.

[pwhite73] 31/10/2023 19:22

richsifInterims to 30/06/2023 are due now. Normal accounts include a post results statement. Given what has recently happened the takeover fiasco should be added to the interims. The FCA may give a bit more time. Shareholders will have to wait and see.

[richsif] 31/10/2023 18:51

Just in case anyone actually believes these simpletons regurgitating Kevin Taylors lies about accounts being due...



Upland Resources Limited (LSE: UPL) is pleased to announce that in order to align its year end date with that of its two associated companies in Malaysia, the board of the Company has approved a decision to change the Year End date to 31 December.

The next audited accounts will be prepared for the 18 months ending 31 December 2023.

[pwhite73] 31/10/2023 18:36

These are only interim unaudited accounts so I'm not sure how stringent the FCA will be given the recent upheaval. Even if they are suspended it would only be a matter of weeks if that.

[goforgold1] 31/10/2023 18:07

Some dumping today suspended tomorrow looks like

[throwingmuses] 31/10/2023 17:39

That's their full time job folks! Stopped reading after the first few.

The more they post the more they need our stock.

The idiot log mentioned.... Insiders will continue to sell..... Insiders have not sold a thing, the same fantasies recreated day after day, lies in fact. Ah well, what can you do...

[bspgamer] 31/10/2023 16:56

Nothing is worth ending your life for, especially money. It’s the wimps way out, face up to your problems and deal with the consequences of your actions.

[hoper1] 31/10/2023 16:54

Sorry, for a moment I thought I'd logged into the Chipperfields Circus board