TIDMPAT
RNS Number : 0970N
Panthera Resources PLC
15 May 2020
15 May 2020
Panthera Resources Plc
("Panthera" or "the Company")
Equity Financing
Panthera Resources plc (AIM: PAT), the gold exploration and
development company with assets in India and West Africa, is
pleased to announce it has arranged an equity financing with
existing and new investors for GBP 349,390 ("Equity
Financing").
The Equity Financing comprises the issue of 9,494,296 new
ordinary shares ('Ordinary Shares') in the Company at a price of
3.68 pence per Ordinary Share. In addition subscribers will also
receive one warrant for every two Ordinary Shares subscribed for,
exercisable at a price of 6.68 pence on or before 16 December 2021
(the 'Warrant'), with each Warrant entitling the holder to acquire
one new Ordinary Share upon exercise of the Warrant. In aggregate
4,747,149 Warrants will be issued as part of the Equity
Financing.
The 9,494,296 new Ordinary Shares are expected to be admitted to
trading on AIM on or around 22 May 2020 ('Admission'). Following
Admission, the Company will have 84,705,047 Ordinary Shares in
issue.
For the purposes of the Financial Conduct Authority's Disclosure
and Transparency Rules ("DTRs"), the issued Ordinary Share capital
of Panthera following this allotment consists of 84,705,047
Ordinary Shares with voting rights attached (one vote per share).
There are no shares held in treasury. This total voting rights
figure may be used by shareholders as the denominator for the
calculation by which they will determine whether they are required
to notify their interest in, or a change to their interest in,
Panthera under the DTRs.
Variation to RIM Financing Agreement
Republic Investment Management Pte Ltd ('RIM') has participated
in GBP236,226 of the Equity Financing under a variation to the
existing subscription agreement.
Pursuant to the existing subscription agreement between the
Company and RIM, and the subsequent variation as announced on 8
August 2019, RIM agreed to subscribe to A$1,763,789 in Ordinary
Shares of the Company to be priced at a 15% discount to the 20 day
VWAP at that time ("Tranche 3B"). Tranche 3B is conditional upon
receipt of approvals to recommence exploration at the Bhukia JV
project in India.
The Company advises that it has now entered into a further
variation agreement reducing the RIM Tranche 3B subscription by
A$448,728, being RIM's participation in the current Equity
Financing. Following the variation, Tranche 3B is reduced from
A$1,763,789 to A$1,315,061.
Certain Directors also participated in the Equity Financing.
Details of the shares purchased by Directors are as follows:
Number Shares %
Price of held holding
per shares after post
Name Title share purchased purchase purchase
--------------- ------- ----------- ----------
Non Executive
Michael Higgins Chairman 3.68p 705,000 8,387,808 9.90%
-------------------- --------------- ------- ----------- ---------- ----------
Managing
Mark Bolton Director 3.68p 350,000 350,000 0.41%
-------------------- --------------- ------- ----------- ---------- ----------
Non Executive
Timothy Hargreaves Director 3.68p 286,739 1,918,534 2.26%
-------------------- --------------- ------- ----------- ---------- ----------
Mark Bolton, Managing Director said "Panthera Resources
continues to focus its efforts in securing the necessary approvals
and licences for the Company's flagship asset, the multi-million
ounce Bhukia gold project in India. We appreciate the commitment
from our shareholders and directors as the Company moves forward in
this challenging investment climate."
Enquiries
Panthera Resources PLC
Mark Bolton (Managing Director) +61 411 220 942
Nominated Advisor and Broker
RFC Ambrian +44 (0) 20 3440 6800
Rob Adamson
Bhavesh Patel
Charlie Cryer
Market Abuse Regulation (MAR) Disclosure
The information communicated in this announcement includes
inside information for the purposes of Article 7 of Regulation
596/2014.
Annexure
1. Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
a) Name: Michael Higgins
b) Position/Status: Non Executive Chairman
c) Initial notification/ Initial notification
Amendment:
2 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 [a] Ordinary shares of GBP 0.01 each
financial instrument, [b] Unlisted warrants exercisable at
type of instrument: GBP0.0668 on or before 16 December
2021
Identification code: [c] Unlisted options (A$0.05, 1/7/2022)
[d] Unlisted options (A$0.20, 6/10/21)
[a] 2138001B98EG6736XN82
[b] Not applicable
[c] Not applicable
[d] Not applicable
b) Nature of the transaction: Shares and options issued for subscription
in equity capital raising.
c) Price(s) and Volume(s): [a] 705,000 shares at GBP0.0368
[b] 352,500 warrants at nil cost
[c] Nil Options (A$0.05, 1/7/2022)
[d] Nil Options (A$0.20, 6/10/21)
d) Aggregated Information: [a] Additional shares in this report:
- Aggregated Volume 705,000
[b] Additional warrants in this report:
352,500
[c] Additional Options (A$0.05, 01/07/2022):
Nil
[d] Additional Options (A$0.20, 06/10/2021):
Nil
[a] Updated current shares held: 8,387,808
[b] Updated current warrants held:
352,500
[c] Updated Options (A$0.05, 1/7/2022):
375,000
[d] Updated Options (A$0.20, 1/10/2020):
1,050,000
e) Date of the transaction: 15 May 2020
f) Place of the transaction: London Stock Exchange
1. Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
a) Name: Mark Bolton
b) Position/Status: Executive Director
c) Initial notification/ Initial notification
Amendment:
2 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 [a] Ordinary shares of GBP 0.01 each
financial instrument, [b] Unlisted warrants exercisable at
type of instrument: GBP0.0668 on or before 16 December
2021
Identification code:
[a] 2138001B98EG6736XN82
[b] Not applicable
b) Nature of the transaction: Shares and options issued for subscription
in equity capital raising.
c) Price(s) and Volume(s): [a] 350,000 shares at GBP0.0368
[b] 175,000 warrants at nil cost
d) Aggregated Information: [a] Additional shares in this report:
- Aggregated Volume 350,000
[b] Additional warrants in this report:
175,000
[a] Updated current shares held: 350,000
[b] Updated current warrants held:
175,000
e) Date of the transaction: 15 May 2020
f) Place of the transaction: London Stock Exchange
1. Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
a) Name: Timothy Hargreaves
b) Position/Status: Non Executive Director
c) Initial notification/ Initial notification
Amendment:
2 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 [a] Ordinary shares of GBP 0.01 each
financial instrument, [b] Unlisted warrants exercisable at
type of instrument: GBP0.0668 on or before 16 December
2021
Identification code:
[a] 2138001B98EG6736XN82
[b] Not applicable
b) Nature of the transaction: Shares and options issued for subscription
in equity capital raising.
c) Price(s) and Volume(s): [a] 281,848 shares at GBP0.0368
[b] 140,924 warrants at nil cost
d) Aggregated Information: [a] Additional shares in this report:
- Aggregated Volume 286,739
[b] Additional warrants in this report:
143,370
[a] Updated current shares held: 1,918,534
[b] Updated current warrants held:
143,370
e) Date of the transaction: 15 May 2020
f) Place of the transaction: London Stock Exchange
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHXELFFBELZBBL
(END) Dow Jones Newswires
May 15, 2020 09:46 ET (13:46 GMT)
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