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Upland Director share buying: it’s not just that the scale is pitiful, it is the way it is being done

By Tom Winnifrith | Wednesday 7 August 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


If the board of Upland Resources (UPL) really believed that shares in this joke company were cheap, the would all have piled in en masse to buy the day the shares collapsed after it emerged that it did not, as it had claimed, have exclusivity on farming into a PSC on block SK334 In Sarawak. That was on 25 July and if the directors really believe in this fairy tale they would have all bought on that day and bought amounts material to their collective salary. Today we have two more purchases.
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