TIDMPRE 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 
 
Pensana Plc 
 
Reports on Payments to Governments for FY 2023 
 
Pensana Plc (LSE: PRE) ("Pensana" or "the Company") publishes the Company's 
Payments to Governments Report for the year ended 30 June 2023 ("the Year" or 
"FY2023") (the "Report"). 
 
 
 
Basis of preparation 
 
This Report, which provides an overview of the payments to governments made by 
Pensana and its subsidiaries, is required under the United Kingdom's ("UK") 
Report on Payments to Governments Regulations 2014 and its amendment in December 
2015 ("the Regulations"). This Report is also intended to satisfy the 
requirements of the Disclosure and Transparency Rules of the Financial Conduct 
Authority in the UK. 
 
This report is also available on the Company's website at: www.pensana.co.uk. 
 
Activities 
 
Payments made by Pensana to governments arising from activities involving the 
exploration, prospection, discovery, development and extraction of minerals 
(extractive activities) across its projects are to be disclosed in this report. 
 
Summary of Payments (US$)1 
 
Country    Corporate  Mining &       Royalties  Infrastructure  Other  Total 
           taxes      other licence             improvements 
                      fees 
Australia  -          -              -          -               -      - 
Angola2    -          195,812        -          -               -      195,812 
UK         -          -              -          -               -      - 
 
1 Payments are shown in US$ equivalent amounts for the financial year ending 30 
June 2023 using the average FX rate for the year 
 
2 Payments shown relate to the Longonjo Project and Coola Exploration Project 
 
 
 
 
 
Government definition 
 
Government includes any national, regional or local authority of a country, and 
includes a department, agency or entity that is a subsidiary of a government. 
 
Payments 
 
Payments to governments are required to be reported in the following categories: 
 
  · Taxes 
 
These are any taxes paid by Pensana on its income and profits in accordance with 
legislation enacted in the applicable jurisdiction. Payments are reported net of 
refunds. Value added tax, personal income taxes, social taxes, property taxes 
are excluded. 
 
  · Royalties 
 
Royalties are not yet applicable as the projects are still in 
exploration/development. 
 
  · Fees 
 
These are any fees and other sums paid as consideration for acquiring a licence 
for gaining access to an area where extractive activities are performed. 
Administrative government fees that are not specifically related to the 
extractive sector are excluded. 
 
  · Infrastructure improvements 
 
Payments in kind in the form of infrastructure expenditure other than in 
circumstances where the infrastructure is expected to be primarily dedicated to 
operational activities throughout its useful life. The Regulations do not 
require reporting social or community payments, such as payments to build a 
hospital or a school. 
 
Other types of payments 
 
Other types of payments that are required to be disclosed in accordance with the 
Regulations but are not relevant to Pensana's operations are the following: 
 
  · Production entitlements 
  · Dividends 
 
including dividends paid to a government in lieu of production entitlements or 
royalties. Dividends paid to a government as an ordinary shareholder on the same 
terms as to other ordinary shareholders and not paid in lieu of production 
entitlements or royalties are excluded. 
 
  · Signature, discovery and production bonuses 
 
Payments are reported on a cash basis. No in-kind payments were made during year 
ended 30 June 2023. 
 
 
Materiality Level 
 
Payments included in the Report are amounts paid, whether in money or in kind, 
for relevant activities. In line with the Regulations, where a payment or a 
series of related payments have not exceeded £86,000 they have not been 
disclosed. 
 
Payments per government 
 
Total payments to governments under the Regulations amounted to US$195,812 in FY 
2023 (FY 2022: US$1,514). 
 
The information contained within this announcement is considered by the Company 
to constitute inside information as stipulated under the Market Abuse 
Regulations (EU) No.596/2014. Upon the publication of this announcement via a 
Regulatory Information Service, this inside information will be considered to be 
in the public domain. The person responsible for arranging for the release of 
this announcement on behalf of the Company is Paul Atherley, Chairman. 
 
- ENDS - 
 
For further information, please contact: 
 
Shareholder/analyst enquiries: 
 
Pensana Plc 
 
Paul Atherley, ChairmanIR@pensana.co.uk 
 
Tim George, Chief Executive Officer 
 
Rob Kaplan, Chief Financial Officer 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

(END) Dow Jones Newswires

December 08, 2023 09:56 ET (14:56 GMT)

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