Pantheon Resources PLC Publication of Audited Financial Results (4669Y)
January 02 2020 - 1:00AM
UK Regulatory
TIDMPANR
RNS Number : 4669Y
Pantheon Resources PLC
02 January 2020
02 January, 2020
Pantheon Resources plc
Publication of Audited Financial Results for the year ended 30
June 2019
The Directors of Pantheon Resources plc ("Pantheon" or "the
Company") regret that the Company will be unable to publish its
audited annual report and accounts for the year ended 30 June 2019
(the "Accounts") by 31 December 2019 as required by Rule 19 of the
AIM Rules for Companies (the "AIM Rules").
The delay has been caused by the technical complexities in the
course of the audit which primarily relate to the accounting of the
acquisitions of Great Bear and Vision. As part of this process a
third-party report is required for the auditor to independently
confirm the directors estimate of the oil in place and recoverable
oil for the Alkaid/Phecda discovery project. While Pantheon
expected to have received this report by now, it is now estimated
to arrive in the third week of January. Accordingly, the directors
believe that the financial results for the year ended 30 June 2019
will be published by the end of January 2020 and the directors are
confident that when published the accounts will show the benefit to
shareholders of the acquisitions.
Dealings in the Company's ordinary shares will be temporarily
suspended under AIM Rule 40 with effect from 7.30a.m. on 2 January
2020, until such time as the Accounts have been duly published in
compliance with AIM Rule 19.
Notwithstanding the temporary suspension of trading in the
Company's ordinary shares, the Company will continue to make
announcements as and when there are any developments that require
disclosure under the AIM Rules. Further announcements will be made
as and when appropriate.
-ENDS-
Further information:
Pantheon Resources plc +44 20 7484 5361
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate
Development
Arden Partners plc (Nominated Adviser and broker) +44 20 7614 5900
Paul Shackleton
Daniel Gee-Summons
Blytheweigh Financial PR & IR
Megan Ray +44 20 7138 3204
For further information on Pantheon Resources plc, see the
website at: www.pantheonresources.com
The information contained within this RNS is considered to be
inside information prior to its release. 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) is
incorporated into, or forms part of, this announcement.
In accordance with the AIM Rules - Note for Mining and Oil &
Gas Companies - June 2009, the information contained in this
announcement has been reviewed and signed off by Jay Cheatham, a
qualified Chemical & Petroleum Engineer, who has over 40 years'
relevant experience within the sector.
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
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