REG - Panthera Resources - Issue of Equity in Lieu of Fees

Panthera ResourcesAnnouncement

24/12/2024 12:45

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RNS Number : 3309R  Panthera Resources PLC  24 December 2024

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK Market Abuse
Regulation

 

24 December 2024

 

Panthera Resources Plc

("Panthera" or the "Company")

 

Issue of Equity in Lieu of Fees

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT),
with assets in West Africa and India, announces the issue of 1,216,175 new
ordinary shares of 1p each in the capital of the Company (the "Ordinary
Shares"), at an average issue price of 5.88 pence per new Ordinary Share (the
"Issue Price") to settle certain director and professional fees.

 

Director fees

 

The Company has agreed to issue 616,175 new Ordinary Shares in order to
satisfy the Company's non-executive directors' accrued fees for the period
between 1 January 2024 to 30 September 2024 (together the "Fee Shares").

 

The issue of equity in order to satisfy accrued fees has been done in previous
years in relation to the Company's non-executive directors. In this regard,
the issue of the Fee Shares reduces the Company's cash expenditures and
further aligns the interests of the Company's board of directors with the
Company's shareholders. The Fee Shares were priced at the 30-day
volume-weighted average price in the month preceding each respective fee
period. Further details of the Fee Shares are as follows:

 

 Name (Title)           PRICE PER Fee SHARE  NUMBER OF Fee SHARES ISSUED  beneficial SHARES HELD AFTER ISSUE  % HOLDING POST ISSUE

 (Description)

 MICHAEL HIGGINS (Chairman)
 50% fees Jan-Mar 2024  £0.0519              84,297
 50% fees Apr-Jun 2024  £0.0610              71,686
 50% fees Jul-Sep 2024  £0.0615              71,029
 Total                                       227,012                      9,546,664                           4.86%

 David Stein (Director)
 50% fees Jan-Mar 2024  £0.0519              48,170
 50% fees Apr-Jun 2024  £0.0610              40,963
 50% fees Jul-Sep 2024  £0.0615              40,588
 Total                                       129,721                      729,564                             0.37%

 Catherine Apthorpe (Director)
 50% fees Jan-Mar 2024  £0.0519              48,170
 50% fees Apr-Jun 2024  £0.0610              40,963
 50% fees Jul-Sep 2024  £0.0615              40,588
 Total                                       129,721                      689,408                             0.35%

 Timothy Hargreaves (Director)
 50% fees Jan-Mar 2024  £0.0519              48,170
 50% fees Apr-Jun 2024  £0.0610              40,963
 50% fees Jul-Sep 2024  £0.0615              40,588
 Total                                       129,721                      2,773,958                           1.41%

 Grand Total                                 616,175

 

Professional fees

 

The Company has agreed to issue 600,000 new Ordinary Shares to settle
outstanding professional fees representing £36,000.  The Company notes that
the issue price is based on the prevailing market price when the engagement
letter was agreed.

 

Application for Admission

 

Application has been made for the 1,216,175 new Ordinary Shares to be admitted
to trading on AIM, which is expected to take effect on or around 30 December
2024 ("Admission").

 

Following Admission, the Company's issued share capital will comprise
196,323,299 Ordinary Shares. The Company does not hold any Ordinary Shares in
treasury. This figure 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, the
share capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing
Director)
+61 411 220 942

 
contact@pantheraresources.com

 

Allenby Capital Limited (Nominated Adviser & Joint
Broker)             +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Guy McDougall / Kelly Gardiner (Sales & Corporate Broking)

 

VSA Capital Limited (Joint
Broker)
+44 (0) 20 3005 5000

Andrew Monk / Andrew Raca

 

Novum Securities Limited (Joint
Broker)
+44 (0) 20 7399 9400

Colin Rowbury

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC
(https://twitter.com/PantheraPlc)

 

For more information and to subscribe to updates visit: pantheraresources.com
(https://pantheraresources.com/)

 

Forward-looking Statements

This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterised by words such as "plan", "expect", "project",
"intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other
similar words or statements that certain events or conditions "may" or "will"
occur. Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ materially from estimated or anticipated events or results implied or
expressed in such forward-looking statements. Such factors include, among
others: the actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans continue to be
refined; possible variations in ore grade or recovery rates; accidents, labour
disputes and other risks of the mining industry; delays in obtaining
governmental approvals or financing; and fluctuations in metal prices. There
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are not
guarantees of future performance and accordingly, undue reliance should not be
put on such statements due to the inherent uncertainty therein.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them:

 

 1.    Details of the person discharging managerial responsibilities / person closely
       associated
 a)    Name                                                         PDMRs:

Michael Higgins     Non-Executive Chairman
                                                                    Catherine Apthorpe  Non-Executive Director
                                                                    David Stein         Non-Executive Director
                                                                    Timothy Hargreaves  Non-Executive Director
 2.    Reason for the Notification
 a)    Position/status                                              See 1a) above
 b)    Initial notification/Amendment                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name                                                         Panthera Resources Plc

 b)    LEI                                                          213800IB98EG6736XN82

 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the Financial instrument, type of instrument  Ordinary shares of 1p each in Panthera Resources Plc

       Identification code                                          ISIN: GB00BD2B4L05
 b)    Nature of the transaction                                    Fee Shares

 c)    Price(s) and volume(s)                                       Name                Price(s)   Volume(s)
                                                                    Michael Higgins     £0.05782   227,012
                                                                    Catherine Apthorpe  £0.05782   129,721
                                                                    David Stein         £0.05782   129,721
                                                                    Timothy Hargreaves  £0.05782   129,721
 d)    Aggregated information:
       -  Aggregated volume                                         616,175
       -  Price                                                     £0.05782
 e)    Date of the transaction                                      24 December 2024
 f)    Place of the transaction                                     Outside a trading venue

2.

Reason for the Notification

a)

Position/status

See 1a) above

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor

a)

Name

Panthera Resources Plc

 

b)

LEI

213800IB98EG6736XN82

 

4.

Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted

a)

Description of the Financial instrument, type of instrument

Ordinary shares of 1p each in Panthera Resources Plc

 

Identification code

ISIN: GB00BD2B4L05

b)

Nature of the transaction

Fee Shares

 

c)

Price(s) and volume(s)

 Name                Price(s)   Volume(s)
 Michael Higgins     £0.05782   227,012
 Catherine Apthorpe  £0.05782   129,721
 David Stein         £0.05782   129,721
 Timothy Hargreaves  £0.05782   129,721

d)

Aggregated information:

-  Aggregated volume

616,175

-  Price

£0.05782

e)

Date of the transaction

24 December 2024

f)

Place of the transaction

Outside a trading venue

 

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