Director Subscription and Total Voting Rights
Executive Chairman and Non-Executive Directors subscribe for 261,696 ordinary shares at £0.212 per share.
- Director Subscription amount £55,480
- Subscription Shares issued 261,696
- Issue price per share £0.212
- Total voting rights post-Admission 1,130,260,635 ordinary shares
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Pantheon Resources plc (AIM: PANR) ("Pantheon" or "the Company"), developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, today announces that the Executive Chairman and all Non-Executive Directors have agreed to subscribe for a total of £55,480 of new ordinary shares in the Company (the "Director Subscription").
The Director Subscription will result in the issue and allotment of a total of 261,696 new ordinary shares (the "Subscription Shares") at an issue price of £0.212 per ordinary share, being the closing price on 30 October 2024.
The Director Subscription is summarised in the table below.
| Director | Current ultimate beneficial ownership (1) (ordinary shares) | Number of Subscription Shares | Resultant ultimate beneficial ownership (ordinary shares) |
|---|---|---|---|
| David Hobbs, Executive Chairman | 4,040,238 | 70,754 | 4,110,992 |
| Linda Havard, Non-Executive Director | 45,673 | 51,886 | 97,559 |
| Jeremy Brest, Non-Executive Director | 2,550,977 | 103,773 | 2.654,750 |
| Allegra Hosford Scheirer, Non-Executive Director | 22,836 | 35,283 | 58,119 |
Includes shares beneficially held through private companies
Separately, the Company notes a typographical error in the disclosure for Robert Rosenthal, Technical Director's holdings as disclosed on 23 October 2024. Mr. Rosenthal's correct shareholding is 2,096,190 ordinary shares, 7,575,000 share options with an average exercise price of £0.54 and 953,752 Restricted Stock Units.
Admission to Trading and Total Voting Rights
Application is being made to the London Stock Exchange plc for the Subscription Shares to be admitted to trading on AIM. It is expected that Admission will become effective and that dealings in the Subscription Shares on AIM will commence at 8:00 a.m. on or around 8 November 2024 ("Admission").
Immediately following Admission, the Company's enlarged issued share capital admitted to trading on AIM will consist of 1,130,260,635 ordinary shares, with each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The total voting rights figure of 1,130,260,635 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Guidance and Transparency Rules.
| 2 | Reason for the notification | |
| a) | Position/status | a. Executive Chairman b. Non-executive Director c. Non-executive Director d. Non-executive Director |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Pantheon Resources plc |
| b) | LEI | 213800SWHY5DNQS64J23 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares ISIN: GB00B125SX82 |
| b) | Nature of the transaction | Subscription for n ew ordinary shares |
| c) | Price(s) and volumes(s) | a. 70,754 ordinary shares @ £0.212 /share b. 51,886 ordinary shares @ £0.212 /share c. 103,773 o rdinary shares @ £0.212 share d. 35,283 ordinary shares @ £0.212 /share |
| d) | Aggregated information - Aggregated volume - Price | N/A (single transaction) |
| e) | Date of the transaction | 30 October, 2024 |
| f) | Place of the transaction | Outside of a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.