REG - Pathfinder Minerals - Proposed Bonus Shares Timetable

Pathfinder MineralsAnnouncement

01/09/2023 07:00

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RNS Number : 0366L  Pathfinder Minerals Plc  01 September 2023

1 September 2023

 

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

 

 

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

 

Proposed Bonus Shares Timetable

 

Further to the announcement on 16 August 2023 regarding, amongst other
matters, the Company's proposed issue of Bonus Preference Shares, the board of
directors of Pathfinder (the "Board") is pleased to announce the timetable
associated with the Bonus Preference Shares.

 

 Event                                                                   Time and date((1)(2))

 Ex date                                                                 4 September 2023

 Record date for determining entitlement to the Bonus Preference Shares  6:00pm on 5 September 2023

 

In the event that the Claim is successful, a further announcement will be made
by the Company detailing, amongst other matters, the timings of the
distribution of the Bonus Preference Shares to those shareholders of
Pathfinder as at the record date as well as the settlement date for the
transfer of the Bonus Preference Shares to Pathfinder shareholders.

 

As reported in the Company's announcement dated 10 December 2021, the
valuation ranges prepared by Versant Partners LLC ('Versant') reflects a
minimum of US$110 million for an ex-ante damages award, through to
a US$1,500 million for an ex-post damages award. Under the Share Purchase
Agreement signed with AAG, Pathfinder is entitled to US$30 million or 25% of
this damages award, whichever sum is the greater (the "Preference Amount").
However, in the event that no Preference Amount is received by the Company
pursuant to the Claim, no amount shall be payable to the holders of the Bonus
Preference Shares by the Company. There can be no guarantee that the Claim
will be successful.

 

Unless the counterparties specifically agree otherwise, a buyer of the
Company's ordinary shares ahead of the ex date (being 4 September 2023) will
assume the benefit to the Bonus Preference Shares, and the seller would need
to pass the benefit to the buyer, even if the seller is the recorded owner at
the record date.

 

Defined terms used but not defined in this announcement have the meanings set
out in the Company's announcement dated 16 August 2023.

 

Notes:

 

(1)      All references to time in this announcement are to London (UK)
time unless otherwise stated.

(2)      The times and dates given are indicative only, based on
pathfinder's current expectations and may be subject to change. If any of the
times or dates above change, Pathfinder will give notice of the change to the
London Stock Exchange and to Pathfinder Shareholders by issuing an
announcement through a Regulatory Information Service.

 

Enquiries:

 

Allenby Capital Limited (Nominated Adviser and Broker)

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. +44 (0)20 3328 5656

 

Vigo Consulting (Investor Relations)

Ben Simons / Kate Kilgallen

Tel. +44 (0)20 7390 0234

Email. pathfinderminerals@vigoconsulting.com

 

 

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