Issue of Equity in Lieu of Fees

Panthera Resources PLC

24 December 2024

 

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

24 December 2024

Panthera Resources Plc

("Panthera" or the "Company")

Issue of Equity in Lieu of Fees

Gold exploration and development company Panthera Resources Plc (AIM: PAT), with assets in West Africa and India, announces the issue of 1,216,175 new ordinary shares of 1p each in the capital of the Company (the "Ordinary Shares"), at an average issue price of 5.88 pence per new Ordinary Share (the "Issue Price") to settle certain director and professional fees.

Director fees

The Company has agreed to issue 616,175 new Ordinary Shares in order to satisfy the Company's non-executive directors' accrued fees for the period between 1 January 2024 to 30 September 2024 (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 are 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)
50% fees Jan-Mar 2024	£0.0519	84,297
50% fees Apr-Jun 2024	£0.0610	71,686
50% fees Jul-Sep 2024	£0.0615	71,029
Total		227,012	9,546,664	4.86%
David Stein (Director)
50% fees Jan-Mar 2024	£0.0519	48,170
50% fees Apr-Jun 2024	£0.0610	40,963
50% fees Jul-Sep 2024	£0.0615	40,588
Total		129,721	729,564	0.37%
Catherine Apthorpe (Director)
50% fees Jan-Mar 2024	£0.0519	48,170
50% fees Apr-Jun 2024	£0.0610	40,963
50% fees Jul-Sep 2024	£0.0615	40,588
Total		129,721	689,408	0.35%
Timothy Hargreaves (Director)
50% fees Jan-Mar 2024	£0.0519	48,170
50% fees Apr-Jun 2024	£0.0610	40,963
50% fees Jul-Sep 2024	£0.0615	40,588
Total		129,721	2,773,958	1.41%
Grand Total		616,175

Professional fees

The Company has agreed to issue 600,000 new Ordinary Shares to settle outstanding professional fees representing £36,000.  The Company notes that the issue price is based on the prevailing market price when the engagement letter was agreed.

Application for Admission

Application has been made for the 1,216,175 new Ordinary Shares to be admitted to trading on AIM, which is expected to take effect on or around 30 December 2024 ("Admission").

Following Admission, the Company's issued share capital will comprise 196,323,299 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)                                                                              [phone]

                                                                                                            [e-mail]

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

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Guy McDougall / Kelly Gardiner (Sales & Corporate Broking)

VSA Capital Limited (Joint Broker)                                                                   [phone]

Andrew Monk / Andrew Raca

Novum Securities Limited (Joint Broker)                                                      [phone]

Colin Rowbury

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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
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 £0.05782 227,012 Catherine Apthorpe £0.05782 129,721 David Stein £0.05782 129,721 Timothy Hargreaves £0.05782 129,721
d)	Aggregated information:
	-  Aggregated volume	616,175
	-  Price	£0.05782
e)	Date of the transaction	24 December 2024
f)	Place of the transaction	Outside a trading venue

 

END