Panthera Resources PLC Exercise of Options and Issue of Equity (5272O)

TIDMPAT

RNS Number : 5272O

Panthera Resources PLC

10 June 2022

10 June 2022

Panthera Resources Plc

(Panthera or the Company)

Kalaka Joint Venture Issue of Shares

Exercise of Options

Issue of Shares in Lieu of Director Fees

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, is pleased to announce the issue of shares in respect to the Kalaka Joint Venture, exercise of options and the issue of equity to directors in lieu of fees.

Kalaka Joint Venture

The Company has issued 247,830 new ordinary Panthera shares at a deemed price of 12p, to the joint venture partner in the Kalaka project. The issue of the shares is in lieu of US$40,000 in option fees payable to the joint venture partner.

Exercise of Options

The Company has issued 609,375 new ordinary Panthera shares following the exercise of 609,375 options at AUD$0.05 each for gross proceeds of AUD$30,469 (est. GBP17,500), including the exercise of 375,000 options by an entity associated with Mr Mike Higgins, the Chairman of the Company.

Shares in Lieu of Directors' Fees

Pursuant to an agreement between the Company and its Directors, the Company has issued 265,607 new ordinary Panthera shares in lieu of Directors' fees. These shares represent the payment for 50% of the Directors' fees incurred by the Company during the period beginning 1 January 2021 and ending 30 June 2022 with the objective of reducing the Company's cash expenditures. The shares were priced at the 30-day VWAP in the month preceding each respective fee period. Details of the shares issued to Directors is as follows:

 
  Name (Title)        PRICE PER         NUMBER OF     beneficial     % HOLDING 
                        SHARE       SHARES ISSUED    SHARES HELD    POST ISSUE 
                                                     AFTER ISSUE 
   (Description) 
--------------------------------  ---------------  -------------  ------------ 
 
 Michael Higgins (Chairman) 
 50% fees Jan-May 
  2021                GBP0.192             24,252 
 50% fees Jan-Mar 
  2022                GBP0.143             30,676 
 50% fees Apr-Jun 
  2022                GBP0.098             44,842 
------------------  ------------  ---------------  -------------  ------------ 
 Total                GBP0.133             99,770    * 8,800,693        *7.31% 
------------------  ------------  ---------------  -------------  ------------ 
 
 David Stein (Director) 
 50% fees Jan-May 
  2021                GBP0.192             12,126 
 50% fees Jan-Mar 
  2022                GBP0.143             17,529 
 50% fees Apr-Jun 
  2022                GBP0.098             25,624 
------------------  ------------  ---------------  -------------  ------------ 
 Total                GBP0.133             55,279        303,295         0.25% 
------------------  ------------  ---------------  -------------  ------------ 
 
 
 
 Catherine Apthorpe (Director) 
 50% fees Jan-May 
  2021                   GBP0.192    12,126 
 50% fees Jan-Mar 
  2022                   GBP0.143    17,529 
 50% fees Apr-Jun 
  2022                   GBP0.098    25,624 
---------------------  -----------  -------  ----------  ------ 
 Total                   GBP0.133    55,279     303,295   0.25% 
---------------------  -----------  -------  ----------  ------ 
 
 Timothy Hargreaves (Director) 
 50% fees Jan-May 
  2021                   GBP0.192    12,126 
 50% fees Jan-Mar 
  2022                   GBP0.143    17,529 
 50% fees Apr-Jun 
  2022                   GBP0.098    25,624 
---------------------  -----------  -------  ----------  ------ 
 Total                   GBP0.133    55,279   2,347,689   1.95% 
---------------------  -----------  -------  ----------  ------ 
 

* inclusive of exercise of options detailed above.

Application for Admission

Application will be made to the London Stock Exchange for the above total issue of 1,122,812 new ordinary Panthera shares, to be admitted to trading on the AIM market with admission expected to occur on or around 16 June 2022 (Admission). The issued new ordinary Panthera shares will rank pari passu in all respects with the existing ordinary Panthera shares.

Following Admission of the new ordinary Panthera shares, the issued ordinary share capital of Panthera will consist of 120,437,401 Ordinary Shares.

For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules (DTRs), the issued Ordinary Share capital of Panthera following this allotment consists of 120,437,401 Ordinary Shares with voting rights attached (one vote per share). There are no shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Panthera under the DTRs.

Contacts

Panthera Resources PLC

Mark Bolton (Managing Director) [phone]

[e-mail]

   Allenby Capital Limited (Nominated Adviser & Joint Broker)             [phone] 

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Kelly Gardiner (Sales & Corporate Broking)

Novum Securities Limited (Joint Broker) [phone]

Colin Rowbury

Financial Public Relations

Vigo Consulting Ltd [phone]

Oliver Clark / Chris McMahon

Subscribe for Regular Updates

Follow the Company on Twitter at @PantheraPLC

For more information and to subscribe to updates visit: pantheraresources.com

UK Market Abuse Regulation (UK MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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.

ANNEXURES

PDMR Disclosures

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                            Michael Higgins 
     -------------------------------  -------------------------------------- 
 b)   Position/Status:                 Chairman 
     -------------------------------  -------------------------------------- 
 c)   Initial notification/            Initial notification 
       Amendment: 
     -------------------------------  -------------------------------------- 
 2    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                            Panthera Resources Plc 
     -------------------------------  -------------------------------------- 
 b)   LEI:                             213800IB98EG6736XN82 
     -------------------------------  -------------------------------------- 
 3    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               Ordinary shares of GBP0.01 each 
       financial instrument, 
       type of instrument:              GB00BD2B4L05 
       Identification code: 
     -------------------------------  -------------------------------------- 
 b)   Nature of the transaction:       Shares issued in lieu of director 
                                        fees; exercise of options 
     -------------------------------  -------------------------------------- 
 c)   Price(s) and Volume(s):           Price(s)    Volume(s) 
                                         GBP0.029    375,000 
                                                    ---------- 
                                         GBP0.133    99,750 

                                                    ---------- 
     -------------------------------  -------------------------------------- 
 d)   Aggregated Information: 
       - Aggregated Volume 
       - Price                           474,750 shares 
                                         GBP0.051 
     -------------------------------  -------------------------------------- 
 e)   Date of the transaction:         10 June 2022 
     -------------------------------  -------------------------------------- 
 f)   Place of the transaction:        AIM, London Stock Exchange 
     -------------------------------  -------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                            Catherine Apthorpe 
     -------------------------------  -------------------------------------- 
 b)   Position/Status:                 Non-executive director 
     -------------------------------  -------------------------------------- 
 c)   Initial notification/            Initial notification 
       Amendment: 
     -------------------------------  -------------------------------------- 
 2    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                            Panthera Resources Plc 
     -------------------------------  -------------------------------------- 
 b)   LEI:                             213800IB98EG6736XN82 
     -------------------------------  -------------------------------------- 
 3    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               Ordinary shares of GBP0.01 each 
       financial instrument, 
       type of instrument:              GB00BD2B4L05 
       Identification code: 
     -------------------------------  -------------------------------------- 
 b)   Nature of the transaction:       Shares issued in lieu of director 
                                        fees 
     -------------------------------  -------------------------------------- 
 c)   Price(s) and Volume(s):           Price(s)    Volume(s) 
                                         GBP0.133    55,279 
                                                    ---------- 
     -------------------------------  -------------------------------------- 
 d)   Aggregated Information: 
       - Aggregated Volume 
       - Price                           55,279 shares 
                                         GBP0.133 
     -------------------------------  -------------------------------------- 
 e)   Date of the transaction:         10 June 2022 
     -------------------------------  -------------------------------------- 
 f)   Place of the transaction:        AIM, London Stock Exchange 
     -------------------------------  -------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                            David Stein 
     -------------------------------  -------------------------------------- 
 b)   Position/Status:                 Non-executive director 
     -------------------------------  -------------------------------------- 
 c)   Initial notification/            Initial notification 
       Amendment: 
     -------------------------------  -------------------------------------- 
 2    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                            Panthera Resources Plc 
     -------------------------------  -------------------------------------- 
 b)   LEI:                             213800IB98EG6736XN82 
     -------------------------------  -------------------------------------- 
 3    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               Ordinary shares of GBP0.01 each 
       financial instrument, 
       type of instrument:              GB00BD2B4L05 
       Identification code: 
     -------------------------------  -------------------------------------- 
 b)   Nature of the transaction:       Shares issued in lieu of director 
                                        fees 
     -------------------------------  -------------------------------------- 
 c)   Price(s) and Volume(s):           Price(s)    Volume(s) 
                                         GBP0.133    55,279 
                                                    ---------- 
     -------------------------------  -------------------------------------- 
 d)   Aggregated Information: 
       - Aggregated Volume 
       - Price                           55,279 shares 
                                         GBP0.133 
     -------------------------------  -------------------------------------- 
 e)   Date of the transaction:         10 June 2022 
     -------------------------------  -------------------------------------- 
 f)   Place of the transaction:        AIM, London Stock Exchange 
     -------------------------------  -------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name:                            Timothy Hargreaves 
     -------------------------------  -------------------------------------- 
 b)   Position/Status:                 Non-executive director 
     -------------------------------  -------------------------------------- 
 c)   Initial notification/            Initial notification 
       Amendment: 
     -------------------------------  -------------------------------------- 
 2    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name:                            Panthera Resources Plc 
     -------------------------------  -------------------------------------- 
 b)   LEI:                             213800IB98EG6736XN82 
     -------------------------------  -------------------------------------- 
 3    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               Ordinary shares of GBP0.01 each 
       financial instrument, 
       type of instrument:              GB00BD2B4L05 
       Identification code: 
     -------------------------------  -------------------------------------- 
 b)   Nature of the transaction:       Shares issued in lieu of director 
                                        fees 
     -------------------------------  -------------------------------------- 
 c)   Price(s) and Volume(s):           Price(s)    Volume(s) 
                                         GBP0.133    55,279 
                                                    ---------- 
     -------------------------------  -------------------------------------- 
 d)   Aggregated Information: 
       - Aggregated Volume 
       - Price                           55,279 shares 
                                         GBP0.133 
     -------------------------------  -------------------------------------- 
 e)   Date of the transaction:         10 June 2022 
     -------------------------------  -------------------------------------- 
 f)   Place of the transaction:        AIM, London Stock Exchange 
     -------------------------------  -------------------------------------- 
 

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June 10, 2022 10:32 ET (14:32 GMT)