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
|