Pantheon Resources PLC Conversion of Shares (9139N)
February 03 2021 - 8:52AM
UK Regulatory
TIDMPANR
RNS Number : 9139N
Pantheon Resources PLC
03 February 2021
03 February, 2021
Pantheon Resources plc
Conversion of Shares
Pantheon Resources plc ("Pantheon" or "the Company"), the
AIM-quoted oil and gas exploration company with a 100% working
interest (subject to completion of the recently announced
transaction with Otto Energy Limited) in a number of oil projects
adjacent to transportation and pipeline infrastructure on the
Alaska North Slope, announces that CHONS LLS ("CHONS") has
requested the conversion, on a one to one basis, of 14,261,949 of
the 102,471,055 ordinary shares not carrying voting rights
("Non-Voting Shares") into ordinary shares carrying voting rights
("Voting Ordinary Shares") in the Company (the "Conversion"). The
Conversion will be effective on Admission (as defined below).
Following the Conversion and Admission (as defined below), CHONS
will hold 113,383,698 Voting Ordinary Shares in the Company in
issue which will represent 19.2% of the enlarged issued Voting
Ordinary Shares.
The Non-Voting Shares were originally issued as part of the
purchase consideration for the Great Bear Companies in January 2019
as previously announced. The Non-Voting Shares are convertible into
Voting Ordinary Shares, on a one-for-one basis.
Application has been made to the London Stock Exchange for the
admission to trading of the 14,261,949 new Voting Ordinary Shares
resulting on the Conversion, which is expected at 8.00am on 08
February 2021 ("Admission").
The Company's enlarged issued share capital following Admission
will consist of 590,776,976 Voting Ordinary Shares and 88,209,106
Non-Voting Shares. The aforementioned figure of 590,776,976 Voting
Ordinary Shares 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, Pantheon under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
-Ends-
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, Adam James, Angelos
Vlatakis +44 20 7523 8000
Blytheweigh
Tim Blythe, Megan Ray, Alice Mclaren, Madeleine
Gordon-Foxwell +44 20 7138 3204
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END
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February 03, 2021 09:52 ET (14:52 GMT)
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