Issue of Equity - Warrant Conversion and Fees
Panthera Resources PLC announced the issue of 910,486 new ordinary shares at an average price of 7.98 pence per share. This includes 225,192 shares to settle non-executive director fees for the period from April to September 2025. Additionally, 685,294 new ordinary shares were issued for warrant conversions at 6.68 pence per warrant, raising £45,777.64 for the company. Following admission to trading on AIM, expected around November 6, 2025, the company's issued share capital will total 249,413,039 ordinary shares.
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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 910,486 new ordinary shares of 1p each in the capital of the Company (the "Ordinary Shares"), at an average issue price of 7.98 pence per new Ordinary Share (the "Issue Price") to settle certain director fees and warrant conversion.
Director Fees
The Company has agreed to issue 225,192 new Ordinary Shares in order to satisfy the Company's non-executive directors' accrued fees for the period between 1 April 2025 to 30 September 2025 (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 are 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) | ||||
| 50% fees Apr-Jun 2025 | £0.11840 | 36,950 | ||
| 50% fees Jul-Sep 2025 | £0.12030 | 36,369 | ||
| Total | 73,319 | 9,744,273 | 3.91% | |
| David Stein (Director) | ||||
| 50% fees Apr-Jun 2025 | £0.11840 | 21,114 | ||
| 50% fees Jul-Sep 2025 | £0.12030 | 20,782 | ||
| Total | 41,896 | 842,843 | 0.34% | |
| Catherine Apthorpe (Director) | ||||
| 50% fees Apr-Jun 2025 | £0.11840 | 21,114 | ||
| 50% fees Jul-Sep 2025 | £0.12030 | 20,782 | ||
| Total | 41,896 | 802,327 | 0.32% | |
| Timothy Hargreaves (Director) | ||||
| 50% fees Apr-Jun 2025 | £0.11840 | 34,310 | ||
| 50% fees Jul-Sep 2025 | £0.12030 | 33,771 | ||
| Total | 68,081 | 2,957,451 | 1.19% | |
| Grand Total | 225,192 | |||
Warrant Conversion
The Company has agreed to issue 685,294 new Ordinary Shares to settle warrant conversion requests at an exercise price of 6.68 pence per warrant (the "Warrant Conversion"). The Warrant Conversion raises £45,777.64 for the Company.
As part of the abovementioned Warrant Conversion, Mark Cranny, the non-board Chief Financial Officer of the Company, has requested to convert warrants over 450,000 new Ordinary Shares at an exercise price of 6.68 pence per warrant. Following Admission (as defined below), Mark Cranny will hold 1,500,000 Ordinary Shares.
Application for Admission
Application has been made for the 910,486 new Ordinary Shares to be admitted to trading on AIM, which is expected to take effect on or around 6 November 2025 ("Admission").
Following Admission, the Company's issued share capital will comprise 249,413,039 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 £0.11934 73,319 Catherine Apthorpe £0.11934 41,896 David Stein £0.11934 41,896 Timothy Hargreaves £0.11934 68,081 |
| d) | Aggregated information: | |
| - Aggregated volume | 225,192 | |
| - Price | N/A - see above. | |
| e) | Date of the transaction | 3 November 2025 |
| f) | Place of the transaction | Outside a trading venue |
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Mark Cranny |
| 2. | Reason for the Notification | |
| a) | Position/status | Non-Board Chief Financial Officer |
| 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 | Issue of new Ordinary Shares following Warrant Conversion |
| c) | Price(s) and volume(s) | 450,000 at 6.68 pence per warrant |
| d) | Aggregated information: | |
| - Aggregated volume | N/A | |
| - Price | N/A | |
| e) | Date of the transaction | 3 November 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.