Issue of Equity and Directors Shareholdings

2 September 2019

Panthera Resources Plc

("Panthera" or "the Company")

Issue of Equity and Directors Shareholdings

 

Panthera Resources plc (AIM: PAT), the gold exploration and development company with assets in India and West Africa, announces the issue of equity today to its Directors and service providers in lieu of fees.

Pursuant to an agreement between the Company and its Directors and key service providers, the Company has today issued 2,605,195 new Ordinary Shares.  These shares represent payment for 50% of the fees incurred by the Company during the period beginning 1 September 2018 and ending 30 June 2019 and has been a very successful program aimed at reducing the Company's cash expenditures. The shares were priced at the 30-day VWAP in the month preceding each respective fee period.

Details of the shares issued to Directors is as follows:

Name	Title	Description	Price PER SHARE	Number of shares Issued	Shares Held After Issue	% Holding post issue
Michael Higgins	Chairman	50% fees Oct-Dec-18	£0.0258	106,064
		50% fees Jan-Mar 19	£0.0272	102,850
		50% fees Apr-Jun 19	£0.1031	26,105
		Avg price	£0.0520	235,019	7,682,808	10.2%
Geoff Stanley	Managing Director	50% fees Sep-18	£0.0423	123,412
		50% fees Oct-18	£0.0258	194,451
		50% fees Nov-18	£0.0255	196,524
		50% fees Dec-18	£0.0202	253,930
		50% fees Jan-19	£0.0272	188,558
		50% fees Feb-19	£0.0276	183,059
		50% fees Mar-19	£0.0628	80,308
		50% fees Apr-19	£0.1031	47,859
		50% fees May-19	£0.1086	45,970
		50% fees Jun-19	£0.0994	50,048
		Avg price	£0.0542	1,364,119	3,114,119	4.1%
David Steins	Director	50% fees Oct-Dec-18	£0.0258	53,032
		50% fees Jan-Mar 19	£0.0272	51,425
		50% fees Apr-Jun 19	£0.1031	13,053
		Avg price	£0.0520	117,510	117,510	0.2%
Tim Hargreaves	Director	50% fees Oct-Dec-18	£0.0258	53,032
		50% fees Jan-Mar 19	£0.0272	51,425
		50% fees Apr-Jun 19	£0.1031	13,053
		Avg price	£0.0520	117,510	1,631,795	2.2%
Catherine Apthorpe	Director	50% fees Oct-Dec-18	£0.0258	53,032
		50% fees Jan-Mar 19	£0.0272	51,425
		50% fees Apr-Jun 19	£0.1031	13,053
		Avg price	£0.0520	117,510	117,510	0.2%

 

Application will be made to the London Stock Exchange for 2,605,195 new Ordinary Shares to be admitted to trading on the AIM market with admission expected to occur on or around 9 September 2019 ("Admission").  The issued new Ordinary Shares will rank pari passu in all respects with the existing Ordinary Shares.

Following Admission of the new Ordinary Shares, the issued ordinary share capital of Panthera will consist of 75,210,751 Ordinary Shares. 

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 75,210,751 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.

Geoff Stanley, Managing Director said "By choosing to take half of their fees and wages in shares, directors and the service providers have effectively elected to use half of their remuneration to purchase shares at market prices prevailing at the time their fees were due.  While designed to minimise the Company's cash expenditures, it is immensely gratifying to see this clear message of support and confidence in Panthera's prospects."

 

Enquiries

Panthera Resources PLC

Geoff Stanley (CEO)                                           +1 (917) 941 7704

 

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.

 

PDMR Notifications

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Michael Higgins
b)	Position/Status:	Chairman
c)	Initial notification/ Amendment:	Initial notification
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 financial instrument, type of instrument: Identification code:	Ordinary shares of 0.01p each   2138001B98EG6736XN82
b)	Nature of the transaction:	Shares issued in lieu of Director Fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) 2.58p 106,064 2.72p 102,850 10.31p 26,105
d)	Aggregated Information: - Aggregated Volume	Additional shares in this report                           235,019
e)	Date of the transaction:	2 September 2019
f)	Place of the transaction:	London Stock Exchange

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Geoffrey Stanley
b)	Position/Status:	Managing Director
c)	Initial notification/ Amendment:	Initial notification
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 financial instrument, type of instrument: Identification code:	Ordinary shares of 0.01p each   2138001B98EG6736XN82
b)	Nature of the transaction:	Shares issued in lieu of Managing Director Fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) 4.23p 123,412 2.58p 194,451 2.55p 196,524 2.02p 253,930 2.72p 188,558 2.76p 183,059 6.28p 80,308 10.31p 47,859 10.86p 45,970 9.94p 50,048
d)	Aggregated Information: - Aggregated Volume	Additional shares in this report                       1,364,119
e)	Date of the transaction:	2 September 2019
f)	Place of the transaction:	London Stock Exchange

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Catherine Apthorpe
b)	Position/Status:	Non-executive director
c)	Initial notification/ Amendment:	Initial notification
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 financial instrument, type of instrument: Identification code:	Ordinary shares of 0.01p each   2138001B98EG6736XN82
b)	Nature of the transaction:	Shares issued in lieu of Director Fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) 2.58p 53,032 2.72p 51,425 10.31p 13,053
d)	Aggregated Information: - Aggregated Volume	Additional shares in this report                           117,510
e)	Date of the transaction:	2 September 2019
f)	Place of the transaction:	London Stock Exchange

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	David Stein
b)	Position/Status:	Non-executive director
c)	Initial notification/ Amendment:	Initial notification
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 financial instrument, type of instrument: Identification code:	Ordinary shares of 0.01p each   2138001B98EG6736XN82
b)	Nature of the transaction:	Shares issued in lieu of payment of fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) 2.58p 53,032 2.72p 51,425 10.31p 13,053
d)	Aggregated Information: - Aggregated Volume	Additional shares in this report                           117,510
e)	Date of the transaction:	2 September 2019
f)	Place of the transaction:	London Stock Exchange

 

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Timothy Hargreaves
b)	Position/Status:	Non-executive Director
c)	Initial notification/ Amendment:	Initial Notification
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 financial instrument, type of instrument:   Identification code:	Panthera Resources PLC ordinary shares     2138001B98EG6736XN82
b)	Nature of the transaction:	Shares issued in lieu of Director Fees
c)	Price(s) and Volume(s):	Price(s) Volume(s) 2.58p  53,032 2.72p 51,425 10.31p  13,053 51,425
d)	Aggregated Information: - Aggregated Volume	Additional shares in this report                           117,510
e)	Date of the transaction:	2 September 2019
f)	Place of the transaction:	London Stock Exchange (AIM)