Pantheon Resources PLC Conversion of Shares (9139N)

TIDMPANR

RNS Number : 9139N

Pantheon Resources PLC

03 February 2021

03 February, 2021

Pantheon Resources plc

Conversion of Shares

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas exploration company with a 100% working interest (subject to completion of the recently announced transaction with Otto Energy Limited) in a number of oil projects adjacent to transportation and pipeline infrastructure on the Alaska North Slope, announces that CHONS LLS ("CHONS") has requested the conversion, on a one to one basis, of 14,261,949 of the 102,471,055 ordinary shares not carrying voting rights ("Non-Voting Shares") into ordinary shares carrying voting rights ("Voting Ordinary Shares") in the Company (the "Conversion"). The Conversion will be effective on Admission (as defined below). Following the Conversion and Admission (as defined below), CHONS will hold 113,383,698 Voting Ordinary Shares in the Company in issue which will represent 19.2% of the enlarged issued Voting Ordinary Shares.

The Non-Voting Shares were originally issued as part of the purchase consideration for the Great Bear Companies in January 2019 as previously announced. The Non-Voting Shares are convertible into Voting Ordinary Shares, on a one-for-one basis.

Application has been made to the London Stock Exchange for the admission to trading of the 14,261,949 new Voting Ordinary Shares resulting on the Conversion, which is expected at 8.00am on 08 February 2021 ("Admission").

The Company's enlarged issued share capital following Admission will consist of 590,776,976 Voting Ordinary Shares and 88,209,106 Non-Voting Shares. The aforementioned figure of 590,776,976 Voting Ordinary Shares 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, Pantheon under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

-Ends-

Further information:

 
 Pantheon Resources plc                             [phone] 
 Jay Cheatham, CEO 
 Justin Hondris, Director, Finance and Corporate 
  Development 
 Canaccord Genuity plc (Nominated Adviser and 
  broker) 
 Henry Fitzgerald-O'Connor, Adam James, Angelos 
  Vlatakis                                          [phone] 
 Blytheweigh 
 Tim Blythe, Megan Ray, Alice Mclaren, Madeleine 
  Gordon-Foxwell                                    [phone] 
 
 

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CONEALADESFFEFA

(END) Dow Jones Newswires

February 03, 2021 09:52 ET (14:52 GMT)