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PANR Pantheon Resources Plc

26.60
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pantheon Resources Plc 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
  0.00 0.00% 26.60 26.72 26.98 27.20 25.50 25.50 4,153,545 16:35:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Natural Gas Liquids 804k -1.45M -0.0016 -167.00 242.41M

Pantheon Resources PLC Quarterly Repayment of Unsecured Convertible Bonds (8082O)

14/06/2022 10:34am

UK Regulatory


Pantheon Resources (LSE:PANR)
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TIDMPANR

RNS Number : 8082O

Pantheon Resources PLC

14 June 2022

14 June 2022

Pantheon Resources plc

Quarterly Repayment of Unsecured Convertible Bonds

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope, announces that it has elected to pay (i) the quarterly principal repayment of US$2.45 million and (ii) the interest payment of US$0.4655 million (collectively, the "Quarterly Repayment") in respect of its senior unsecured convertible bonds due 2026 (the "Convertible Bonds") , through the issuance of new shares. Pursuant to the terms of the Convertible Bond agreement a total of 2,824,549 new ordinary shares (the "New Ordinary Shares") will be issued in settlement of this Quarterly Repayment. Application has been made to AIM for the admission to trading of the 2,824,549 New Ordinary Shares which is expected on 20(th) June 2022 ("Admission").

After settlement of the Quarterly Repayment, the principal remaining under the Convertible Bond will be reduced by US$2.45 million to US$44.10 million.

The Company's enlarged issued share capital admitted to trading on AIM immediately following Admission will consist of 767,705,537 ordinary shares. The aforementioned figure of 767,705,537 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 
 Jay Cheatham, CEO                                  +44 20 7484 5361 
 Justin Hondris, Director, Finance and Corporate 
  Development 
 Canaccord Genuity plc (Nominated Adviser and 
  broker) 
 Henry Fitzgerald-O'Connor, James Asensio           +44 20 7523 8000 
 BlytheRay 
 Tim Blythe, Megan Ray, Alice McLaren, Madeleine 
  Gordon-Foxwell                                    +44 20 7138 3204 
 

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.

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

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement.

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.

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

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(END) Dow Jones Newswires

June 14, 2022 05:34 ET (09:34 GMT)

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