Shares in Lieu
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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.
| 2. | Reason for the Notification | |
| a) | Position/status | See 1a) above |
| b) | Initial notification/Amendment | Initial Notification |
| a) | Name | Panthera Resources Plc |
| b) | LEI | 213800IB98EG6736XN82 |
| 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 |
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