16th Aug 2019 13:03
(Alliance News) - Upland Resources Ltd said Friday it completed its registration migration to the UK crown dependency Jersey on Thursday, in a bid to shore up its protections faced by any future takeover activity.
Following the migration to Jersey, oil & gas firm Upland cancelled its previous registration in the British Virgin Islands.
Upland made the move in order to become subject to the UK City Code on Takeovers & Mergers which provides the firm with the "benefit of comprehensive protections that this affords, including the right of equality of treatment."
Jersey was chosen because it allowed migrations from the British Virgin Islands.
Shares in Upland were 14% higher at 1.88 pence in London on Friday.
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