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Share Name Share Symbol Market Type Share ISIN Share Description
Pantheon Resources LSE:PANR London Ordinary Share GB00B125SX82 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.75p -3.33% 21.75p 21.75p 22.15p 22.00p 21.50p 22.00p 1,354,032 12:21:34
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 1.0 -8.8 -3.7 - 98.86

Pantheon Resources PLC Result of AGM and General Meeting

14/01/2019 1:41pm

UK Regulatory (RNS & others)


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TIDMPANR

RNS Number : 0395N

Pantheon Resources PLC

14 January 2019

14 January 2019

Pantheon Resources plc

Result of Annual General Meeting and General Meeting

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a 50% - 75% working interest in several conventional project areas in Tyler and Polk Counties, onshore East Texas, announces that at the Annual General Meeting held earlier today, all resolutions were duly passed.

Pantheon also announces that the resolutions proposed at the General Meeting held earlier today were duly passed.

Further to the announcement on 21 December 2018 of the proposed Acquisition of Great Bear Companies by Pantheon, the Directors expect that Admission will now take place at 8.00 a.m. on Thursday 17 January 2019. A short delay has arisen owing to the logistics of the release of security over the assets, which will take longer than was previously anticipated.

The Acquisition remains subject to Admission. An application has been made for the admission to trading on AIM of 213,543,911 new Ordinary Shares, split as follows:

   -      100,000,000 Consideration Shares 
   -      108,335,266 Capital Raising Shares 
   -      1,845,900 Adviser Shares(1) 
   -      3,362,745 further Consideration Shares issued following the Vision Acquisition(2) 

(1) a further 442,622 shares have been subscribed for in addition to the 1,403,278 Adviser Shares set out in the Circular

(2) as set out in the Circular, the number of Consideration Shares has been increased in the ratio of 49/51, to account for the new Ordinary Shares issued in respect of the Vision Acquisition.

The issue of the above shares is conditional on Admission.

The total voting rights figure immediately following Admission of 454,530,466 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 DTRs.

In addition, as previously disclosed, 102,471,055 Non-Voting Convertible Shares and 9,607,843 Consideration Warrants will be issued to the Great Bear Vendors.

Following completion, it is intended that Robert Rosenthal be appointed as Technical Director of Pantheon. Additionally, Great Bear have nominated Carl Williams and Jeremy Brest to be appointed to the board as non-executive directors. The Company will make a further announcement on their appointment in due course, once the regulatory requirements have been completed.

At today's General Meeting, the Chief Executive Officer of Pantheon, Jay Cheatham, commented:

"This has been a complicated transaction and one that we have worked on for a substantial period of time. This deal provides an outstanding opportunity on a number of levels, and I'm extremely pleased that it has been universally supported by shareholders. The combination of Great Bear and Pantheon assets, the addition of technical and management staff and the injection of capital truly transforms Pantheon."

-Ends-

Further information:

 
                                                      +44 20 7484 
 Pantheon Resources plc                                5361 
 Jay Cheatham, CEO 
 Justin Hondris, Director, Finance and Corporate 
  Development 
 
                                                      +44 20 7614 
 Arden Partners plc (Nominated Adviser and broker)     5900 
 Paul Shackleton 
  Daniel Gee-Summons 
 
 

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

Capitalised terms used in this announcement shall have the same meanings as the definitions in the Company's announcement of 21 December 2018 and in the Circular.

The information contained within this RNS is considered to be inside information prior to its release.

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

 
       Details of the person(s) discharging managerial responsibilities/person 
        closely associated with 
 a)   Name(s)                               John (Jay) Cheatham 
     ------------------------------------  ------------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------- 
 a)   Position/status                       Chief Executive Officer 
     ------------------------------------  ------------------------------------- 
 b)   Initial notification/Amendment        Initial notification 
     ------------------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------------- 
 a)   Name                                  Pantheon Resources plc 
     ------------------------------------  ------------------------------------- 
 b)   LEI                                   213800SWHY5DNQS64J23 
     ------------------------------------  ------------------------------------- 
 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          Ordinary shares of 1 pence each 
       instrument, type of instrument        fully paid 
       Identification code                   ISIN: GB00B125SX82 
     ------------------------------------  ------------------------------------- 
 b)   Nature of transaction                 Subscriber in the Capital Raising 
     ------------------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)                 Price    Volume 
                                              15.25p   655,738 
                                                      -------- 
     ------------------------------------  ------------------------------------- 
 d)        Aggregated information           N/a 
             *    Aggregated volume 
 
 
             *    Price 
     ------------------------------------  ------------------------------------- 
 e)   Date of transaction                   17 January 2019 
     ------------------------------------  ------------------------------------- 
 f)   Place of transaction                  Outside a trading venue 
     ------------------------------------  ------------------------------------- 
 
 
       Details of the person(s) discharging managerial responsibilities/person 
        closely associated with 
 a)    Name(s)                              Justin Hondris 
      -----------------------------------  ------------------------------------- 
 
   2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                      Finance and Corporate Development 
                                             Director 
      -----------------------------------  ------------------------------------- 
 b)    Initial notification/Amendment       Initial notification 
      -----------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                 Pantheon Resources plc 
      -----------------------------------  ------------------------------------- 
 b)    LEI                                  213800SWHY5DNQS64J23 
      -----------------------------------  ------------------------------------- 
 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         Ordinary shares of 1 pence each 
        instrument, type of instrument       fully paid 
        Identification code                  ISIN: GB00B125SX82 
      -----------------------------------  ------------------------------------- 
 b)    Nature of transaction                Subscriber in the Capital Raising 
      -----------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s)                Price    Volume 
                                              15.25p   196,722 
                                                      -------- 
      -----------------------------------  ------------------------------------- 
 d)         Aggregated information          N/a 
              *    Aggregated volume 
 
 
              *    Price 
      -----------------------------------  ------------------------------------- 
 e)    Date of transaction                  17 January 2019 
      -----------------------------------  ------------------------------------- 
 f)    Place of transaction                 Outside a trading venue 
      -----------------------------------  ------------------------------------- 
 
 
       Details of the person(s) discharging managerial responsibilities/person 
        closely associated with 
 a)    Name(s)                              John Walmsley 
      -----------------------------------  ------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                      Finance and Corporate Development 
                                             Director 
      -----------------------------------  ------------------------------------- 
 b)    Initial notification/Amendment       Initial notification 
      -----------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                 Pantheon Resources plc 
      -----------------------------------  ------------------------------------- 
 b)    LEI                                  213800SWHY5DNQS64J23 
      -----------------------------------  ------------------------------------- 
       Details of the transaction(s): section to be repeated 
   4    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         Ordinary shares of 1 pence each 
        instrument, type of instrument       fully paid 
        Identification code                  ISIN: GB00B125SX82 
      -----------------------------------  ------------------------------------- 
 b)    Nature of transaction                Subscriber in the Capital Raising 
      -----------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s)                Price    Volume 
                                              15.25p   81,148 
                                                      ------- 
      -----------------------------------  ------------------------------------- 
 d)         Aggregated information          N/a 
              *    Aggregated volume 
 
 
              *    Price 
      -----------------------------------  ------------------------------------- 
 e)    Date of transaction                  17 January 2019 
      -----------------------------------  ------------------------------------- 
 f)    Place of transaction                 Outside a trading venue 
 
 
 
       Details of the person(s) discharging managerial responsibilities/person 
        closely associated with 
 a)    Name(s)                              Phillip Gobe 
      -----------------------------------  ------------------------------------- 
 2     Reason for the notification 
      -------------------------------------------------------------------------- 
 a)    Position/status                      Finance and Corporate Development 
                                             Director 
      -----------------------------------  ------------------------------------- 
 b)    Initial notification/Amendment       Initial notification 
      -----------------------------------  ------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      -------------------------------------------------------------------------- 
 a)    Name                                 Pantheon Resources plc 
      -----------------------------------  ------------------------------------- 
 b)    LEI                                  213800SWHY5DNQS64J23 
      -----------------------------------  ------------------------------------- 
       Details of the transaction(s): section to be repeated 
   4    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         Ordinary shares of 1 pence each 
        instrument, type of instrument       fully paid 
        Identification code                  ISIN: GB00B125SX82 
      -----------------------------------  ------------------------------------- 
 b)    Nature of transaction                Subscriber in the Capital Raising 
      -----------------------------------  ------------------------------------- 
 c)    Price(s) and volume(s)                Price    Volume 
                                              15.25p   155,881 
                                                      -------- 
      -----------------------------------  ------------------------------------- 
 d)         Aggregated information          N/a 
              *    Aggregated volume 
 
 
              *    Price 
      -----------------------------------  ------------------------------------- 
 e)    Date of transaction                  17 January 2019 
      -----------------------------------  ------------------------------------- 
 f)    Place of transaction                 Outside a trading venue 
      -----------------------------------  ------------------------------------- 
 

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 or visit www.rns.com.

END

RAGUSOORKBAAAAR

(END) Dow Jones Newswires

January 14, 2019 08:41 ET (13:41 GMT)

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