REG - Pantheon Resources - Quarterly Repayment of Unsecured Convertible Bonds

Pantheon ResourcesAnnouncement

17/03/2025 07:15

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RNS Number : 8994A  Pantheon Resources PLC  17 March 2025

 

17 March 2025

 

 

Pantheon Resources plc

Quarterly Repayment of Unsecured Convertible Bonds

Pantheon Resources plc ("Pantheon" or the "Company"), the AIM-quoted oil and
gas company with 100% working interests in certain projects located adjacent
to transportation and pipeline infrastructure on the Alaska North Slope,
announces that it has elected to pay (i) the quarterly principal repayment
of US$2.45 million and (ii) the quarterly interest payment of US$0.147
million (collectively, the "Quarterly Repayment") in respect of its senior
unsecured convertible bonds issued in December 2021 to a fund advised by
Heights Capital Ireland LLC, and due June 2026 (the "Convertible Bonds"),
through the issuance of new shares. Pursuant to the terms of the Convertible
Bond agreement a total of 3,629,122 new ordinary shares (the "New Ordinary
Shares") will be issued in full settlement of this Quarterly Repayment.
Application is being made to AIM for the admission to trading of
the 3,629,122 New Ordinary Shares which are expected to admit on or around
20(th) March 2025 ("Admission").

 

After settlement of the Quarterly Repayment, the principal remaining under
the Convertible Bond will be reduced by US$2.45 million to US$12.25
million.

Total Voting Rights

 

Immediately following Admission, the Company's enlarged issued share capital
admitted to trading on AIM will consist of 1,142,998,513 ordinary
shares, with each share carrying the right to one vote. The Company does not
hold any Ordinary Shares in treasury. The total voting rights figure
of 1,142,998,513 may be used by shareholders (and others with notification
obligations) as the denominator for the calculations by which they will
determine whether they are required to notify their interest in, or a change
to their interest in, the Company under the Disclosure Guidance and
Transparency Rules.

 

 

-ENDS-

 

Further information:

 

UK Corporate and Investor Relations Contact
Pantheon Resources plc

Justin Hondris
contact@pantheonresources.com (about:blank)

 

Nominated Adviser and Broker

Canaccord Genuity Limited

Henry Fitzgerald-O'Connor, James Asensio, Charlie Hammond

+44 20 7523 8000

 

Public Relations Contact
BlytheRay

Tim Blythe, Megan Ray, Matthew Bowld

+44 20 7138 3204

 

USA Investor Relations Contact

MZ Group

Lucas Zimmerman, Ian Scargill

+1 949 259 4987
PTHRF@mzgroup.us (about:blank)

IMPORTANT INFORMATION

This Announcement is released by Pantheon Resources plc and contains inside
information for the purposes of Article 7 of UK MAR. It is disclosed in
accordance with the Group's obligations under Article 17 of UK MAR.

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
Announcement.

 

 

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