A purported takeover approach that led to shares in Upland Resources trebling in value at one stage last week was “not bona fide”, the oil minnow has admitted.
Shares in Upland Resources (LSE:UPL) Ltd took plunged on Monday morning, as the oil and gas investment firm announced that a potential takeover bid had.
Upland Resources Ltd shares plummeted on Monday, after it announced that sales talks regarding a takeover offer have fallen through.
Shares in the firm were down 40% at 2.70 pence each in London on.