REG - Pantheon Resources - Issue of Equity

Pantheon ResourcesAnnouncement

15/03/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220315:nRSO7500Ea&default-theme=true

RNS Number : 7500E  Pantheon Resources PLC  15 March 2022

 

15 March 2022

 

Pantheon Resources plc

 Issue of Equity

 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and
gas company with a 100% working interest in all of its oil projects adjacent
and near to transportation and pipeline infrastructure on the Alaska North
Slope, confirms that further to its announcement on 9 March 2022, a total of
3,080,798 ordinary fully paid shares ("New Ordinary Shares") will be issued in
settlement of the quarterly principal of $2.75 million and interest repayment
of $0.55 million in respect of the unsecured convertible bond.

 

Application has been made to AIM for the admission to trading of the
3,080,798 New Ordinary Shares resulting from the conversion, which is expected
at 8.00 am on 18 March 2022 ("Admission").

 

The Company's enlarged issued share capital admitted to trading on AIM
immediately following Admission will consist of 756,824,531 voting ordinary
shares and nil non-voting shares. The aforementioned figure of 756,824,531
voting ordinary shares may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest in,
Pantheon under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

 

After settlement of the quarterly repayment, the principal remaining under the
convertible bond will be reduced by US$2.75 million to US$50.25 million.

 

 

-Ends-

Further information:

 Pantheon Resources plc                                             +44 20 7484 5361
 Jay Cheatham, CEO
 Justin Hondris, Director, Finance and Corporate Development
 Canaccord Genuity plc (Nominated Adviser and broker)
 Henry Fitzgerald-O'Connor, James Asensio                           +44 20 7523 8000
 BlytheRay
 Tim Blythe, Megan Ray, Alice McLaren, Madeleine Gordon-Foxwell     +44 20 7138 3204

 

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas company focused on
several large projects located on the North Slope of Alaska ("ANS"), onshore
USA where it has a 100% working interest in 153,000 highly prospective acres
with potential for multi billion barrels of oil recoverable. A major
differentiator to other ANS projects is its close proximity to transport and
pipeline infrastructure which offers a significant competitive advantage to
Pantheon, allowing for materially lower capital costs and much quicker
development times. The Group's stated objective is to create material value
for its stakeholders through oil exploration, appraisal and development
activities in high impact, highly prospective conventional assets, in the USA;
a highly established region for energy production with infrastructure, skilled
personnel and low sovereign risk. All operations are onshore USA, with
drilling costs materially below that of offshore wells.

 

For further information on Pantheon Resources plc, see the website
at: www.pantheonresources.com (http://www.pantheonresources.com)

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  IOESFDEFLEESELD