Issue of Equity & Exercise of Share Options
Updated : 07:00
13th January 2022
Pantheon Resources plc
Issue of Equity
Exercise of Share Options and Total Voting Rights
Pantheon Resources plc ("Pantheon" or "the Company"), the AIM-quoted oil and gas company with a 100% working interest in all of its oil projects adjacent and near to transportation and pipeline infrastructure on the Alaska North Slope announces that following the exercise of staff share options, it has issued and allotted 2,575,000 new ordinary shares of £0.01 each ("New Ordinary Shares") in the Company. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company.
500,000 of the 2,575,000 share options being exercised relate to Justin Hondris, a director of the Company as detailed in the PDMR Notification below.
An application is being made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will become effective, and trading will commence at 8.00 a.m. on 18th January 2022. Following Admission, the total number of Ordinary Shares in issue, and therefore the total number of voting rights, will be 747,002,203.
Further information:
Pantheon Resources plc | +44 20 7484 5361 |
Jay Cheatham, CEO |
|
Justin Hondris, Director, Finance and Corporate Development |
|
Canaccord Genuity plc (Nominated Adviser and broker) |
|
Henry Fitzgerald-O'Connor, James Asensio | +44 20 7523 8000 |
Blytheweigh |
|
Tim Blythe, Megan Ray, Alice McLaren, Madeleine Gordon-Foxwell | +44 20 7138 3204 |
Notes to Editors
Pantheon Resources plc is an AIM listed Oil & Gas company focused on several large projects located on the North Slope of Alaska ("ANS"), onshore USA where it has a 100% working interest in 153,000 highly prospective acres with potential for multi billion barrels of oil recoverable. A major differentiator to other ANS projects is its close proximity to transport and pipeline infrastructure which offers a significant competitive advantage to Pantheon, allowing for materially lower capital costs and much quicker development times. The Group's stated objective is to create material value for its stakeholders through oil exploration, appraisal and development activities in high impact, highly prospective conventional assets, in the USA; a highly established region for energy production with infrastructure, skilled personnel and low sovereign risk. All operations are onshore USA, with drilling costs materially below that of offshore wells.
Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website (or any other website) incorporated into, or forms part of, this announcement. The information contained within this announcement is considered to be inside information prior to its release.
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Justin Hondris |
2 | Reason for the notification | |
a) | Position / status | Finance Director |
b) | Initial notification / amendment | Initial Notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Pantheon Resources plc |
b) | Legal entity identifier | 213800SWHY5DNQS64J23 |
4 | 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 | Options over Ordinary Shares |
| Identification code | GB00B125SX82 |
b) | Nature of the transaction | Exercise of Share Options into equivalent number of Ordinary Shares |
c) | Currency | GBP |
d) | Price(s) and volume(s) | 500,000 @ £0.30 |
e) | Aggregated information
| n/a |
f) | Date of the transaction | 12 January 2022 |
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