Expiration of Warrants
Exercise of 4.2m warrants generates £613,833 proceeds; 7.98m warrants extended for officers and directors.
- Warrant exercises 51,152,777
- Gross proceeds £613,833
- Warrants exercised this notice 4,166,667
- Warrants extended for directors/officers 7,979,167
- Total Ordinary Shares in issue 1,420,958,048
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Upland Resources Limited (LSE: UPL) is pleased to announce that, further to its RNS dated 28 February 2025 and prior to closing on Friday, it received exercise notices for an additional 4,166,667 warrants, which were issued on 28 February 2023. These exercises bring the total number of warrants exercised to 51,152,777.
The warrant exercises have generated gross proceeds of £613,833.
In light of the trading restrictions that apply during closed periods, the Company has resolved to extend the exercise period for warrants held by officers and directors. The extension, which applies for an additional six months, pertains to a total of 7,979,167 warrants.
All other remaining warrants have now expired.
Bolhassan Di, Upland Chairman and CEO commented:
"We appreciate the continued support from shareholders, this alongside recent raises ensure the company maintains a strong cash position throughout 2025."
Admission
Total voting rights
Following the warrant exercise, the Company's total number of Ordinary Shares in issue will be 1,420,958,048. 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.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.