REG - Panthera Resources - Shares in Lieu

Panthera ResourcesAnnouncement

04/03/2024 07:00

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RNS Number : 0730F  Panthera Resources PLC  04 March 2024

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

 

4 March 2024

 

Panthera Resources Plc

("Panthera" or the "Company")

 

Issue of Equity in lieu of director fees

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT),
with assets in West Africa and India, announces the issue of 1,999,257 new
ordinary shares of 1p each in the capital of the Company (the "Ordinary
Shares"), at an average issue price of 5.71 pence per new Ordinary Share (the
"Issue Price").

 

The new Ordinary Shares are being issued in order to satisfy the Company's
non-executive directors' accrued fees for the period between 1 July 2022 to 31
December 2023 and 50 per cent. of the Managing Director's net after-tax
accrued salary for the period between 1 January 2023 to 31 October 2023
(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 is 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)
 100% fees Jul-Sep 2022   £0.063               140,548
 50% fees Oct-Dec 2022    £0.056               77,882
 50% fees Jan-Mar 2023    £0.045               96,537
 50% fees Apr-Jun 2023    £0.048               92,099
 50% fees Jul-Sep 2023    £0.065               67,790
 50% fees Oct-Dec 2023    £0.099               44,103
 Total                                         518,959                      9,319,652                           5.97%

 David Stein (Director)
 100% fees Jul-Sep 2022   £0.063               80,313
 50% fees Oct-Dec 2022    £0.056               44,504
 50% fees Jan-Mar 2023    £0.045               55,164
 50% fees Apr-Jun 2023    £0.048               52,628
 50% fees Jul-Sep 2023    £0.065               38,737
 50% fees Oct-Dec 2023    £0.099               25,202
 Total                                         296,548                      599,843                             0.38%

 Catherine Apthorpe (Director)
 50% fees Jul-Sep 2022    £0.063               40,156
 50% fees Oct-Dec 2022    £0.056               44,504
 50% fees Jan-Mar 2023    £0.045               55,164
 50% fees Apr-Jun 2023    £0.048               52,628
 50% fees Jul-Sep 2023    £0.065               38,737
 50% fees Oct-Dec 2023    £0.099               25,202
 Total                                         256,392                      559,687                             0.36%

 Timothy Hargreaves (Director)
 100% fees Jul-Sep 2022   £0.063               80,313
 50% fees Oct-Dec 2022    £0.056               44,504
 50% fees Jan-Mar 2023    £0.045               55,164
 50% fees Apr-Jun 2023    £0.048               52,628
 50% fees Jul-Sep 2023    £0.065               38,737
 50% fees Oct-Dec 2023    £0.099               25,202
 Total                                         296,548                      2,644,237                           1.69%

 Mark Bolton (Managing Director)
 50% net salary Jan 2023  £0.045               74,261
 50% net salary Feb 2023  £0.043               78,647
 50% net salary Mar 2023  £0.044               77,105
 50% net salary Apr 2023  £0.048               70,847
 50% net salary May 2023  £0.041               81,981
 50% net salary Jun 2023  £0.049               69,312
 50% net salary Jul 2023  £0.065               52,147
 50% net salary Aug 2023  £0.072               47,002
 50% net salary Sep 2023  £0.073               45,950
 50% net salary Oct 2023  £0.099               33,558
 Total                                         630,810                      1,582,810                           1.01%
 Grand Total                                   1,999,257

 

Application for Admission

 

Application has been made for the 1,999,257 Fee Shares to be admitted to
trading on AIM, which is expected to take effect on or around 8 March 2024
("Admission").

 

Following Admission, the Company's issued share capital will comprise
175,988,340 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)

 

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
                                                                    Mark Bolton         Managing 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     £0.059012   518,959
                                                                    Catherine Apthorpe  £0.058504   256,392
                                                                    David Stein         £0.059012   296,548
                                                                    Timothy Hargreaves  £0.059012   296,548
                                                                    Mark Bolton         £0.053294   630,810
 d)    Aggregated information:
       -  Aggregated volume                                         1,999,257
       -  Price                                                     £0.05714
 e)    Date of the transaction                                      1 March 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     £0.059012   518,959
 Catherine Apthorpe  £0.058504   256,392
 David Stein         £0.059012   296,548
 Timothy Hargreaves  £0.059012   296,548
 Mark Bolton         £0.053294   630,810

d)

Aggregated information:

-  Aggregated volume

1,999,257

-  Price

£0.05714

e)

Date of the transaction

1 March 2024

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

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