Shares in Lieu

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)                                                                              [phone]

                                                                                                            [e-mail]

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

John Depasquale / Vivek Bhardwaj (Corporate Finance)

Guy McDougall / Kelly Gardiner (Sales & Corporate Broking)

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 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

 

END