Upland Resources Limited Exercise of Warrants (7081S)

TIDMUPL

RNS Number : 7081S

Upland Resources Limited

08 November 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

This announcement is not an offer for sale, or a solicitation of an offer to acquire, securities in any jurisdiction, including in or into the United States, Canada, Australia, or Japan. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

8 November 2019

UPLAND RESOURCES LIMITED

("Upland" or the "Company")

Exercise of Warrants

Upland Resources Limited (LSE: UPL), the oil and gas company actively building a portfolio of attractive upstream assets, announces that it has received an exercise notice from Optiva Securities Limited ("Optiva") in respect of warrants issued to it pursuant to a warrant agreement with the Company dated 25 November 2016 (in connection with the Placing carried out by the Company in November 2016) to subscribe for 6,336,154 new shares of no par value each in the Company ("New Ordinary Shares") at 1.3p per share.

The Company has therefore allotted and issued the 6,336,154 New Ordinary Shares following receipt of the aggregate GBP82,370 subscription price from Optiva. Applications will be made to the Financial Conduct Authority ("FCA") for the New Ordinary Shares to be admitted to listing on the Official List (standard listing segment) of the FCA and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's main market for listed securities (together "Admission").

The Company advises that, following Admission, the Company's issued share capital will be 591,848,214 shares of no par value, each with one vote per share (and no such shares are held in treasury). The total number of voting rights is therefore 591,848,214. In addition, following Admission, Optiva now holds 36,541,684 shares of no par value in the Company which is 6.17% of the total shares in issue.

The above figure of 591,848,214 may be used by shareholders as the denominator for the calculations to determine if they have a notifiable interest in the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules, or if such interest has changed.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Contact details:-

 
 Upland Resources Limited 
 Christopher Pitman, CEO                                Tel: [phone] 
                                                [e-mail] 
                                   ======================================= 
 
 Optiva Securities Limited 
                                   ======================================= 
 Jeremy King (Corporate Finance)                        Tel: [phone] 
                                          [e-mail] 
                                   ======================================= 
 Christian Dennis (Corporate                            Tel: [phone] 
  Broker)                            [e-mail] 
                                   ======================================= 
 
 FlowComms Ltd 
                                   ======================================= 
 Sasha Sethi (Investor Relations)                       Tel: [phone] 
                                                       [e-mail] 
                                   ======================================= 
 
 FTI Consulting 
                                   ======================================= 
 Ben Brewerton / Molly Stewart                   Tel: [phone] 
                                         [e-mail] 
                                   ======================================= 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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November 08, 2019 02:00 ET (07:00 GMT)