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

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Upland Resources Limited NPV

1.12p

10:50 23/12/24

-0.44%

-0.01p

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

17,520.89

11:54 23/12/24

-0.31%

-54.69

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.

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