Upland Resources Limited Convertible Loan Notes Facility - Commission (2142I)
March 20 2018 - 2:01AM
UK Regulatory
TIDMUPL
RNS Number : 2142I
Upland Resources Limited
20 March 2018
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.
20 March 2018
UPLAND RESOURCES LIMITED
("Upland" or the "Company")
CONVERTIBLE LOAN NOTES FACILITY - COMMISSION
Upland Resources Limited (LSE: UPL), the oil and gas company
actively building a portfolio of attractive upstream assets,
announces that it has today satisfied the aggregate GBP105,000
commission payable to the Facility Providers of the GBP3,500,000
Convertible Loan Notes Facility (as referred to in the Company's
announcement of 8 March 2018), as to GBP65,000 in cash and as to
GBP40,000 by the issue of an aggregate of 1,769,355 new shares of
no par value in the Company (the "Commitment Fee Shares") at 2.261p
per share.
For this purpose, the Commitment Fee Shares were valued at a 10%
discount to the volume weighted average price ("VWAP") of shares of
no par value in the Company over the five trading days immediately
prior to today's date.
The Commitment Fee Shares represent approximately 0.385% of the
Company's enlarged issued share capital.
505,530 Commitment Fee Shares (with a value of GBP11,428.56 at
the discounted VWAP price) have been issued to Norza Zakaria,
Chairman of the Company and one of the Facility Providers.
Application will be made to the UK Listing Authority and to
London Stock Exchange plc for the Commitment Fee Shares to be
admitted to listing on the standard listing segment of the Official
List maintained by of the UK Listing Authority and to trading on
London Stock Exchange plc's main market for listed securities
(together "Admission").
This announcement contains inside information for the purposes
of Article 7 of the Regulation (EU) No 596/2014 on market abuse
Contact details:
Upland Resources www.uplandres.com
Limited
Steve Staley, CEO s.staley@uplandres.com
Optiva Securities www.optivasecurities.com
Limited
Jeremy King Tel: +44 (0) 20 3137 1904
(Corporate Finance) jeremy.king@optivasecurities.com
Christian Dennis Tel: +44 (0) 20 3411 1882
(Corporate Broker) christian.dennis@optivasecurities.com
FTI Consulting
Edward Westropp Tel: +44 (0) 203 727 1521
edward.westropp@fticonsulting.com
Molly Stewart Tel: +44 (0) 20 3727 1708
molly.stewart@fticonsulting.com
Flowcomms Ltd
Sasha Sethi Tel: +44 (0) 7891 677441
sasha@flowcomms.com
Notes
Upland Resources Limited is an upstream oil & gas company
whose highly experienced management team has a track record of
creating major value for shareholders in junior oil & gas
companies, including Cove Energy plc. The Company has extensive
technical and commercial skills and contacts, management having
held senior roles in Petronas, Conoco, Shell etc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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