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. £17,500), 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) (Description) | PRICE PER SHARE | NUMBER OF SHARES ISSUED | beneficial SHARES HELD AFTER ISSUE | % HOLDING POST ISSUE |
| | | | | |
| Michael Higgins (Chairman) | | | | |
| 50% fees Jan-May 2021 | £0.192 | 24,252 | | |
| 50% fees Jan-Mar 2022 | £0.143 | 30,676 | | |
| 50% fees Apr-Jun 2022 | £0.098 | 44,842 | | |
| Total | £0.133 | 99,770 | * 8,800,693 | *7.31% |
|
|
| | ||
| David Stein (Director) |
|
| | |
| 50% fees Jan-May 2021 | £0.192 | 12,126 | | |
| 50% fees Jan-Mar 2022 | £0.143 | 17,529 | | |
| 50% fees Apr-Jun 2022 | £0.098 | 25,624 | | |
| Total | £0.133 | 55,279 | 303,295 | 0.25% |
|
|
|
|
| |
| Catherine Apthorpe (Director) |
|
| | |
| 50% fees Jan-May 2021 | £0.192 | 12,126 | | |
| 50% fees Jan-Mar 2022 | £0.143 | 17,529 | | |
| 50% fees Apr-Jun 2022 | £0.098 | 25,624 | | |
| Total | £0.133 | 55,279 | 303,295 | 0.25% |
|
|
|
|
| |
| Timothy Hargreaves (Director) |
|
| | |
| 50% fees Jan-May 2021 | £0.192 | 12,126 | | |
| 50% fees Jan-Mar 2022 | £0.143 | 17,529 | | |
| 50% fees Apr-Jun 2022 | £0.098 | 25,624 | | |
| Total | £0.133 | 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) +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)
Kelly Gardiner (Sales & Corporate Broking)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9400
Colin Rowbury
Financial Public Relations
Vigo Consulting Ltd +44 (0)20 7390 0230
Oliver Clark / Chris McMahon
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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/ Amendment: | Initial notification | ||||||
| 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 financial instrument, type of instrument: Identification code: | Ordinary shares of £0.01 each
GB00BD2B4L05 | ||||||
| b) | Nature of the transaction: | Shares issued in lieu of director fees; exercise of options | ||||||
| c) | Price(s) and Volume(s):
|
| ||||||
| d) | Aggregated Information: - Aggregated Volume - Price |
474,750 shares £0.051 | ||||||
| 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/ Amendment: | Initial notification | ||||||
| 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 financial instrument, type of instrument: Identification code: | Ordinary shares of £0.01 each
GB00BD2B4L05 | ||||||
| b) | Nature of the transaction: | Shares issued in lieu of director fees | ||||||
| c) | Price(s) and Volume(s):
|
| ||||||
| d) | Aggregated Information: - Aggregated Volume - Price |
55,279 shares £0.133 | ||||||
| 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/ Amendment: | Initial notification | ||||||
| 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 financial instrument, type of instrument: Identification code: | Ordinary shares of £0.01 each
GB00BD2B4L05 | ||||||
| b) | Nature of the transaction: | Shares issued in lieu of director fees | ||||||
| c) | Price(s) and Volume(s):
|
| ||||||
| d) | Aggregated Information: - Aggregated Volume - Price |
55,279 shares £0.133 | ||||||
| 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/ Amendment: | Initial notification | ||||||
| 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 financial instrument, type of instrument: Identification code: | Ordinary shares of £0.01 each
GB00BD2B4L05 | ||||||
| b) | Nature of the transaction: | Shares issued in lieu of director fees | ||||||
| c) | Price(s) and Volume(s):
|
| ||||||
| d) | Aggregated Information: - Aggregated Volume - Price |
55,279 shares £0.133 | ||||||
| e) | Date of the transaction: | 10 June 2022 | ||||||
| f) | Place of the transaction: | AIM, London Stock Exchange | ||||||
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