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.
9th September 2024
UPLAND RESOURCES
LIMITED
("Upland" or the
"Company")
Strategic Investor
Subscription
Upland Resources Limited (LSE: UPL),
is pleased to announce that one of its strategic Malaysian
investors, K Meranun, has approached the
company to participate in an equity subscription
at 1.4 pence for 42,857,142 new ordinary
shares in aggregate. This being a 12% premium to the closing price
on Friday 6th September.
K Meranun, a major shareholder and
director in Tune Assets Limited, one of the Company's largest
shareholders, has previously individually subscribed for 10,000,000
shares. K Meranun is highly regarded in Malaysia and his support is
of great value to the Company.
The net proceeds of the subscription will provide the Company with £600,000 of
additional working capital to support its immediate business plans
in Sarawak.
Admission
Admission of the new Ordinary Shares
to the Official List (standard listing segment) and to trading on
the London Stock Exchange's Main Market is expected to be on or
around September 18th, 2024.
Total Voting Rights
Following the Subscription, the
Company's total number of Ordinary Shares in issue will be
1,369,805,271. 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.
**ENDS**
For
further information, please contact:
