RNS Number : 0730F
Panthera Resources PLC
04 March 2024
 

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

 

4 March 2024

 

Panthera Resources Plc

("Panthera" or the "Company")

 

Issue of Equity in lieu of director fees

 

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, announces the issue of 1,999,257 new ordinary shares of 1p each in the capital of the Company (the "Ordinary Shares"), at an average issue price of 5.71 pence per new Ordinary Share (the "Issue Price").

 

The new Ordinary Shares are being issued in order to satisfy the Company's non-executive directors' accrued fees for the period between 1 July 2022 to 31 December 2023 and 50 per cent. of the Managing Director's net after-tax accrued salary for the period between 1 January 2023 to 31 October 2023 (together the "Fee Shares").

 

The issue of equity in order to satisfy accrued fees has been done in previous years in relation to the Company's non-executive directors. In this regard, the issue of the Fee Shares reduces the Company's cash expenditures and further aligns the interests of the Company's board of directors with the Company's shareholders. The Fee Shares were priced at the 30-day volume-weighted average price in the month preceding each respective fee period. Further details of the Fee Shares is as follows:

 

Name (Title)

(Description)

PRICE PER Fee SHARE

NUMBER OF Fee SHARES ISSUED

beneficial SHARES HELD AFTER ISSUE

% HOLDING POST ISSUE






MICHAEL HIGGINS (Chairman)




100% fees Jul-Sep 2022

£0.063

140,548



50% fees Oct-Dec 2022

£0.056

77,882



50% fees Jan-Mar 2023

£0.045

96,537



50% fees Apr-Jun 2023

£0.048

92,099



50% fees Jul-Sep 2023

£0.065

67,790



50% fees Oct-Dec 2023

£0.099

44,103



Total

 

518,959

9,319,652

5.97%

 

 


David Stein (Director)

 

 


100% fees Jul-Sep 2022

£0.063

80,313



50% fees Oct-Dec 2022

£0.056

44,504



50% fees Jan-Mar 2023

£0.045

55,164



50% fees Apr-Jun 2023

£0.048

52,628



50% fees Jul-Sep 2023

£0.065

38,737



50% fees Oct-Dec 2023

£0.099

25,202



Total

 

296,548

599,843

0.38%

 

 

 

 


Catherine Apthorpe (Director)

 

 


50% fees Jul-Sep 2022

£0.063

40,156



50% fees Oct-Dec 2022

£0.056

44,504



50% fees Jan-Mar 2023

£0.045

55,164



50% fees Apr-Jun 2023

£0.048

52,628



50% fees Jul-Sep 2023

£0.065

38,737



50% fees Oct-Dec 2023

£0.099

25,202



Total

 

256,392

559,687

0.36%

 

 

 

 


Timothy Hargreaves (Director)

 

 


100% fees Jul-Sep 2022

£0.063

80,313



50% fees Oct-Dec 2022

£0.056

44,504



50% fees Jan-Mar 2023

£0.045

55,164



50% fees Apr-Jun 2023

£0.048

52,628



50% fees Jul-Sep 2023

£0.065

38,737



50% fees Oct-Dec 2023

£0.099

25,202



Total

 

296,548

2,644,237

1.69%

 

 

 

 


Mark Bolton (Managing Director)

 

 


50% net salary Jan 2023

£0.045

74,261



50% net salary Feb 2023

£0.043

78,647



50% net salary Mar 2023

£0.044

77,105



50% net salary Apr 2023

£0.048

70,847



50% net salary May 2023

£0.041

81,981



50% net salary Jun 2023

£0.049

69,312



50% net salary Jul 2023

£0.065

52,147



50% net salary Aug 2023

£0.072

47,002



50% net salary Sep 2023

£0.073

45,950



50% net salary Oct 2023

£0.099

33,558



Total

 

630,810

1,582,810

1.01%

Grand Total

 

1,999,257

 

 

 

Application for Admission

 

Application has been made for the 1,999,257 Fee Shares to be admitted to trading on AIM, which is expected to take effect on or around 8 March 2024 ("Admission").

 

Following Admission, the Company's issued share capital will comprise 175,988,340 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. This figure 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, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Contacts

 

Panthera Resources PLC

Mark Bolton (Managing Director)                                                                              +61 411 220 942

                                                                                                            contact@pantheraresources.com

 

Allenby Capital Limited (Nominated Adviser & Joint Broker)             +44 (0) 20 3328 5656

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Guy McDougall / Kelly Gardiner (Sales & Corporate Broking)

 

Novum Securities Limited (Joint Broker)                                                      +44 (0) 20 7399 9400

Colin Rowbury                                                                                                                                                  

 

Subscribe for Regular Updates

 

Follow the Company on Twitter at @PantheraPLC

 

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

 

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.

 

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

 

1. 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

PDMRs:

Michael Higgins

Non-Executive Chairman

Catherine Apthorpe

Non-Executive Director

David Stein

Non-Executive Director

Timothy Hargreaves

Non-Executive Director

Mark Bolton

Managing Director

 

 

2. 

Reason for the Notification

a)

Position/status

See 1a) above

b)

Initial notification/Amendment

Initial Notification

3. 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Panthera Resources Plc

 

b)

LEI

213800IB98EG6736XN82

 

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 instrument, type of instrument

Ordinary shares of 1p each in Panthera Resources Plc

 

Identification code

ISIN: GB00BD2B4L05

b)

Nature of the transaction

Fee shares

 

c)

Price(s) and volume(s)

Name

Price(s)

Volume(s)

Michael Higgins

£0.059012

518,959

Catherine Apthorpe

£0.058504

256,392

David Stein

£0.059012

296,548

Timothy Hargreaves

£0.059012

296,548

Mark Bolton

£0.053294

630,810

d)

Aggregated information:



-  Aggregated volume

1,999,257


-  Price

£0.05714

e)

Date of the transaction

1 March 2024

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

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