Upland Resources Share Discussion Threads

[oilisgold] 01/11/2023 16:06

We been trying to contact the chap that lost it all . Very worrying. The board should be held accountable.

[oilisgold] 01/11/2023 16:04

Its just trading at pre offer price , so will settle at 3p.

A lot of new LTH here now.

[apfindley] 01/11/2023 15:53

Gap to 3p?What about the gap back down to 1p?

[oilisgold] 01/11/2023 15:47

A Article has already been published in the Times newspaper. We need the board to resign

[richsif] 01/11/2023 15:40

Back on track the Share Price looking much better today. Next stop is the gap back over 3p.

[richsif] 01/11/2023 15:37

Wait? Were you trying to spam the board?

[richsif] 01/11/2023 15:37

Why did you post your nonsene over multiple messages btw?

[richsif] 01/11/2023 15:36

No one believes you mate. You are just hanging about this board because you are a lonely wee guy with no friends.

[oilisgold] 01/11/2023 14:56

We have also asked for emails of TW from his company and events leading to this

[oilisgold] 01/11/2023 14:53

A lot of questions not answered and the board of UPL needs to be held accountable for its actions. We have asked for all the emails sent to the board of directors on personal and work emails.

[oilisgold] 01/11/2023 14:50

What happened last week was corruption at its best. Who is at fault and why didnt the board do any research before issuing RNS on Monday.

[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.