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Pantheon Resources (PANR)

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Wednesday 18 May, 2022

Pantheon Resources

Block Listing Application to AIM

RNS Number : 9391L
Pantheon Resources PLC
18 May 2022
 

18 May 2022

 

Pantheon Resources plc

Block Listing Application to AIM

 

 

Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope,  announces that an application has been made to AIM for a block listing of 32,830,000 ordinary shares of £0.01 each in the Company (the "New Ordinary Shares") in respect of a total of 32,830,000 Ordinary Shares arising on the future exercise of 32,830,000 existing unexercised share options on the basis of one share per share option. The share options were originally granted under the Pantheon Resources plc 2009 Discretionary Share Option Plan which was updated in July 2020 (the "Scheme").

 

When issued, the New Ordinary Shares issued following option exercises and admitted to trading under the block admission will rank pari passu in all respects with the existing Ordinary Shares.

 

The Company will make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29.

 

At the time of this announcement, Pantheon has 760,505,988 Ordinary Shares in issue. All of the Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in Pantheon as at the date of this announcement is therefore 760,505,988.  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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Admission of the block listing is expected to take place on 23 May 2022.

 

 - ENDS -

 

Further information:

 

Pantheon Resources plc

+44 20 7484 5361

Jay Cheatham, CEO


Justin Hondris, Director, Finance and Corporate Development


Canaccord Genuity Limited (Nominated Adviser and broker)


Henry Fitzgerald-O'Connor,  James Asensio

+44 20 7523 8000

BlytheRay


Tim Blythe, Megan Ray, Alice McLaren, Madeleine Gordon-Foxwell

+44 20 7138 3204

 

Notes to Editors

Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.

 

For further information on Pantheon Resources plc, see the website at:  www.pantheonresources.com

 

Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) is incorporated into, or forms part of, this announcement. 

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