⌘K
t
| Date | 27 Feb 2023 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 0639R |
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR PUBLICATION, RELEASE OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN UPLAND RESOURCES LIMITED OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF UPLAND RESOURCES LIMITED.
27 February 2023
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
Management Subscription and Share Options
Upland Resources Limited (LSE: UPL) is pleased to announce (further to the publication of the Prospectus approved by the Financial Conduct Authority on 23 February 2023) the following details concerning the subscription ("the Management Subscription") by certain directors and managers for new ordinary shares ("Ordinary Shares") at a price of 0.6p per new ordinary share.
|
Director or PDMR |
Number of New Ordinary Shares subscribed for |
Value of New Ordinary Shares subscribed for |
Number of Ordinary Shares held on Admission |
% Share Capital held on Admission |
Number of Warrants held on Admission
|
|
Bolhassan Di |
4,166,667 |
£25,000 |
20,801,287 |
1.89% |
2,083,333 |
|
Gerard Murray |
1,250,000 |
£7,500 |
1,350,000 |
0.12% |
625,000 |
|
John Forrest |
1,250,000 |
£7,500 |
1,750,000 |
0.16% |
625,000 |
|
Prof. A Hurst |
833,333 |
£5,000 |
833,333 |
0.08% |
416,667 |
|
TOTAL |
7,500,000 |
45,000 |
24,734,620 |
2.25% |
3,750,000 |
As part of the Management Subscription the Company will also issue warrants on the same terms as the fundraise notification ("the Fundraise") announced on 20 February 2023 this being issue of one warrant over an Ordinary Share for every two Ordinary Shares issued in the Management Subscription. These warrants will be exercisable at a price of 1.20p ("Warrant Price") for a period of two years from grant. Ordinary Shares and warrants issued in respect of the Management Subscription will be issued alongside shares and warrants from the Fundraise which raised gross proceeds of £1,698,000 (comprising 83,333,333 placing shares, 199,666,667 subscription shares and 141,500,000 warrants). The Company will therefore issue a total of 290,500,000 shares ("Admission Shares") and 150,250,000 warrants on Admission.
As referenced in the Company's recent prospectus, the Company has created a 10% share option incentive plan over the Company's issued share capital on Admission and granted options over 110,000,000 ordinary shares to certain Directors and senior managers of the Company as detailed below. These share options do not vest until the share price has reached 2p.
|
Name |
Options |
Exercise Price(p) |
Term |
|
Datuk Bolhassan Di |
50,000,000 |
.60 |
5 years |
|
Aimi Nasharuddin |
10,000,000 |
.60 |
5 years |
|
Dixon Wong |
10,000,000 |
.60 |
5 years |
|
Andrew Hurst |
10,000,000 |
.60 |
5 years |
|
Gerard Murray |
15,000,000 |
.60 |
5 years |
|
John Forrest |
15,000,000 |
.60 |
5 years |
It is expected that Admission will become effective and that dealings in the Admission shares on the Main Market will commence at 8.00 a.m. (London time) on 28 February 2023.
PDMR Notification Forms are appended.
**ENDS**
For further information, please contact:
|
Upland Resources Limited Bolhassan Di, Chairman and CEO |
Tel: +60 198 861 919
|
|
Optiva Securities - Broker Christian Dennis |
Tel: +44 (0)20 3137 1903
|
|
Flowcomms - IR Contact Sasha Sethi
|
Tel: +44 (0)7891 677441 |
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Datuk Bolhassan Di |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Chairman and Chief Executive Officer |
||||||
|
b) |
Initial notification/amendment |
Amendment |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 |
|||||||
|
b) |
Nature of the Transaction |
Purchase of ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Datuk Bolhassan Di |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Chairman and Chief Executive Officer |
||||||
|
b) |
Initial notification/amendment |
Amendment |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Warrants, each warrant to subscribe for one ordinary share of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Grant of warrants to subscribe for new ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Datuk Bolhassan Di |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Chairman and Chief Executive Officer |
||||||
|
b) |
Initial notification/amendment |
Amendment |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Aimi Nasharuddin |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Director |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Dixon Wong |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Director |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Andrew Hurst |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Director |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 |
|||||||
|
b) |
Nature of the Transaction |
Purchase of ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Andrew Hurst |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Director |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Warrants, each warrant to subscribe for one ordinary share of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Grant of warrants to subscribe for new ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Andrew Hurst |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Non-Executive Director |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Gerard Murray |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Operating Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 |
|||||||
|
b) |
Nature of the Transaction |
Purchase of ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Gerard Murray |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Operating Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Warrants, each warrant to subscribe for one ordinary share of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Grant of warrants to subscribe for new ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
Gerard Murray |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Operating Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
John Charles Forrest |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Financial Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 |
|||||||
|
b) |
Nature of the Transaction |
Purchase of ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
London Stock Exchange |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
John Charles Forrest |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Financial Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Warrants, each warrant to subscribe for one ordinary share of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Grant of warrants to subscribe for new ordinary shares |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||
|
1. |
Details of the person discharging managerial responsibilities / person closely associated |
|||||||
|
a) |
Name |
John Charles Forrest |
||||||
|
2. |
Reason for the Notification |
|||||||
|
a) |
Position/status |
Chief Financial Officer |
||||||
|
b) |
Initial notification/amendment |
Initial Notification |
||||||
|
3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||||
|
a) |
Name |
Upland Resources Limited. |
||||||
|
b) |
LEI |
213800MRG7ISJEK8YA38 |
||||||
|
4. |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv)each place where transactions have been conducted |
|||||||
|
a) |
Description of the Financial instrument, type of instrument |
Issue of options over ordinary shares of no par value |
||||||
|
Identification code |
JE00BJXN4P16 (ordinary shares) |
|||||||
|
b) |
Nature of the Transaction |
Award of options |
||||||
|
c) |
Price(s) and volume(s) |
|
||||||
|
d) |
Aggregated information Aggregated volume Price |
Single transactions as in 4 c) above |
||||||
|
e) |
Date of the transactions |
26 February 2023 |
||||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||||