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.
01 May 2024
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Update on publication of Annual Report and financial results
for the period ended 31 December 2023 - temporary suspension of
listing from 1 May 2024
Upland provides the following update
in relation to its Annual Report and Financial Statements for its
18 month financial period ended 31 December 2023 (the "2023 Annual
Report").
As stipulated by the applicable
rules of the Financial Conduct Authority (the "FCA"), the Company
is required to publish its audited Annual Report by 30 April 2024.
However, PKF Littlejohn LLP, the Company's auditors, have requested
additional time beyond the originally planned timetable to complete
their audit. Whilst the audit process has yet to be concluded, the
Directors have been advised by PKF Littlejohn LLP that the audit is
substantially complete and that there are no material audit issues causing
this delay.
Accordingly, the Company has
requested the temporary Suspension of listing by the FCA (as well
as trading on the Main Market of the London Stock Exchange) with
effect from the start of trading on Wednesday 1 May 2024 (the
"Suspension").
PKF Littlejohn LLP has informed the
Company that the audit will be completed in the near term. As such,
the Company will publish its 2023 Annual Report immediately after
completion of the Audit, following which the Company will apply for
the Suspension to be lifted. A further announcement in this respect
will be made in due course.
Bolhassan Di, Upland Chairman and CEO
commented:
"We regret any inconvenience caused to our shareholders due to
this delay, the extension of the Company's year-end to 31 December,
as part of aligning with our related entity in Sarawak, and the
audit of an 18-month period as a result has meant that some
additional time beyond the originally planned timetable for
completion of audit is necessary. We will work closely with our
advisors to facilitate the completion of the audit process as soon
as possible and to apply to lift the Suspension at the first
opportunity.
Shareholders should note that we are progressing and
finalising work-streams related to licensing arrangements and joint
venture discussions. We will be updating the market on these
developments in the near-term. "
**ENDS**
For
further information, please contact:
Upland Resources Limited
Bolhassan Di, Chairman and
CEO
Gerry Murray, COO
|
Tel: +60
198 861 919
bolhassan@uplandbigoil.com.my
gerry.murray@upland.energy
|