Request for Suspension

Upland Resources Limited

01 May 2024

 

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: [phone] [e-mail] [e-mail]

 

END