Client NewsUpland Resources Limited – Exercise of Warrants – Big Oil Ventures
Upland Resources Limited (LSE: UPL) is pleased to announce that it has received an exercise notice from its partner in Sarawak, Big Oil Ventures SDN BHD, to exercise 6,888,888 warrants that were issued in conjunction with the Company’s prospectus published on 23 February 2023.
This warrant exercise has raised gross proceeds of £82,666.65.
Bolhassan Di, Upland Chairman and CEO commented:
“We are very pleased to see our partners increasing their shareholding in Upland Resources. We regard this as a strong validation of our progress to date in Sarawak.”
An application has been made for the admission of 6,888,888 new Ordinary Shares to the Official List (standard listing segment) and to trading on the London Stock Exchange’s Main Market, which is expected to occur on 29 September 2023.
Total voting rights
Following the Warrant Exercise, the Company’s total number of Ordinary Shares in issue will be 1,108,157,741. This figure may be used by shareholders as the denominator for the calculation to determine if they are required to notify the Company of their interest in, or a change to their interest in, the Company’s securities in accordance with the FCA’s Disclosure and Transparency Rules.
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