Upland Resources rejects 'very preliminary' bid approach at 14p a share

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Upland Resources Limited NPV

1.22p

14:04 15/11/24

0.00%

0.00p

Shares of Upland Resources rocketed on Monday after the oil and gas company confirmed it had received and rejected an unsolicited, "very preliminary" approach about a possible takeover offer at 14p a share from SEC Capital.

Financial Services

16,492.39

15:44 15/11/24

-0.24%

-40.16

In a very brief statement responding to press speculation, it said: "The board has unequivocally rejected the approach as it believes it significantly undervalues the current potential of the company."

At 0850 BST, the shares were up 109% at 6.16p.