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Pantheon Resources (PANR)

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Thursday 13 January, 2022

Pantheon Resources

Issue of Equity & Exercise of Share Options

RNS Number : 2830Y
Pantheon Resources PLC
13 January 2022
 

13th January 2022

 

Pantheon Resources plc

Issue of Equity

Exercise of Share Options and Total Voting Rights

 

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 following the exercise of staff share options, it  has issued and allotted  2,575,000  new ordinary shares of  £0.01  each ("New Ordinary Shares") in the Company.  The New Ordinary Shares will rank pari passu with the existing Ordinary  Shares in the Company. 

 

500,000 of the 2,575,000 share options being exercised relate to Justin Hondris, a director of the Company as detailed in the PDMR Notification below.

 

An application is being made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective, and trading will commence at 8.00 a.m. on 18th January 2022. Following Admission, the total number of Ordinary Shares in issue, and therefore the total number of voting rights, will be 747,002,203.

 

Further information:

 

Pantheon Resources plc

+44 20 7484 5361

Jay Cheatham, CEO

 

Justin Hondris, Director, Finance and Corporate Development

 

Canaccord Genuity plc (Nominated Adviser and broker)

 

Henry Fitzgerald-O'Connor,  James Asensio

+44 20 7523 8000

Blytheweigh

 

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.

 

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) incorporated into, or forms part of, this announcement. The information contained within this announcement is considered to be inside information prior to its release.

 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

 Justin Hondris

2

Reason for the notification

a)

Position / status

Finance Director

b)

Initial notification / amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pantheon Resources plc

b)

Legal entity identifier

213800SWHY5DNQS64J23

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

Options over Ordinary Shares

 

Identification code

GB00B125SX82

b)

Nature of the transaction

Exercise of Share Options into equivalent number of Ordinary Shares

c)

Currency

GBP

d)

Price(s) and volume(s)

500,000 @ £0.30

e)

Aggregated information

 

n/a

f)

Date of the transaction

12 January 2022

 

-Ends-

 

 

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