TIDMPANR
RNS Number : 0395N
Pantheon Resources PLC
14 January 2019
14 January 2019
Pantheon Resources plc
Result of Annual General Meeting and General Meeting
Pantheon Resources plc ("Pantheon" or "the Company"), the
AIM-quoted oil and gas exploration company with a 50% - 75% working
interest in several conventional project areas in Tyler and Polk
Counties, onshore East Texas, announces that at the Annual General
Meeting held earlier today, all resolutions were duly passed.
Pantheon also announces that the resolutions proposed at the
General Meeting held earlier today were duly passed.
Further to the announcement on 21 December 2018 of the proposed
Acquisition of Great Bear Companies by Pantheon, the Directors
expect that Admission will now take place at 8.00 a.m. on Thursday
17 January 2019. A short delay has arisen owing to the logistics of
the release of security over the assets, which will take longer
than was previously anticipated.
The Acquisition remains subject to Admission. An application has
been made for the admission to trading on AIM of 213,543,911 new
Ordinary Shares, split as follows:
- 100,000,000 Consideration Shares
- 108,335,266 Capital Raising Shares
- 1,845,900 Adviser Shares(1)
- 3,362,745 further Consideration Shares issued following the Vision Acquisition(2)
(1) a further 442,622 shares have been subscribed for in
addition to the 1,403,278 Adviser Shares set out in the
Circular
(2) as set out in the Circular, the number of Consideration
Shares has been increased in the ratio of 49/51, to account for the
new Ordinary Shares issued in respect of the Vision
Acquisition.
The issue of the above shares is conditional on Admission.
The total voting rights figure immediately following Admission
of 454,530,466 may be used by shareholders (and others with
notification obligations) as the denominator for the calculations
by which they will determine whether they are required to notify
their interest in, or a change to their interest in, the Company
under the DTRs.
In addition, as previously disclosed, 102,471,055 Non-Voting
Convertible Shares and 9,607,843 Consideration Warrants will be
issued to the Great Bear Vendors.
Following completion, it is intended that Robert Rosenthal be
appointed as Technical Director of Pantheon. Additionally, Great
Bear have nominated Carl Williams and Jeremy Brest to be appointed
to the board as non-executive directors. The Company will make a
further announcement on their appointment in due course, once the
regulatory requirements have been completed.
At today's General Meeting, the Chief Executive Officer of
Pantheon, Jay Cheatham, commented:
"This has been a complicated transaction and one that we have
worked on for a substantial period of time. This deal provides an
outstanding opportunity on a number of levels, and I'm extremely
pleased that it has been universally supported by shareholders. The
combination of Great Bear and Pantheon assets, the addition of
technical and management staff and the injection of capital truly
transforms Pantheon."
-Ends-
Further information:
+44 20 7484
Pantheon Resources plc 5361
Jay Cheatham, CEO
Justin Hondris, Director, Finance and Corporate
Development
+44 20 7614
Arden Partners plc (Nominated Adviser and broker) 5900
Paul Shackleton
Daniel Gee-Summons
For further information on Pantheon Resources plc, see the
website at: www.pantheonresources.com
Capitalised terms used in this announcement shall have the same
meanings as the definitions in the Company's announcement of 21
December 2018 and in the Circular.
The information contained within this RNS is considered to be
inside information prior to its release.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) John (Jay) Cheatham
------------------------------------ -------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------ -------------------------------------
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) LEI 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 Ordinary shares of 1 pence each
instrument, type of instrument fully paid
Identification code ISIN: GB00B125SX82
------------------------------------ -------------------------------------
b) Nature of transaction Subscriber in the Capital Raising
------------------------------------ -------------------------------------
c) Price(s) and volume(s) Price Volume
15.25p 655,738
--------
------------------------------------ -------------------------------------
d) Aggregated information N/a
* Aggregated volume
* Price
------------------------------------ -------------------------------------
e) Date of transaction 17 January 2019
------------------------------------ -------------------------------------
f) Place of transaction Outside a trading venue
------------------------------------ -------------------------------------
Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Justin Hondris
----------------------------------- -------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Finance and Corporate Development
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) LEI 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 Ordinary shares of 1 pence each
instrument, type of instrument fully paid
Identification code ISIN: GB00B125SX82
----------------------------------- -------------------------------------
b) Nature of transaction Subscriber in the Capital Raising
----------------------------------- -------------------------------------
c) Price(s) and volume(s) Price Volume
15.25p 196,722
--------
----------------------------------- -------------------------------------
d) Aggregated information N/a
* Aggregated volume
* Price
----------------------------------- -------------------------------------
e) Date of transaction 17 January 2019
----------------------------------- -------------------------------------
f) Place of transaction Outside a trading venue
----------------------------------- -------------------------------------
Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) John Walmsley
----------------------------------- -------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Finance and Corporate Development
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) LEI 213800SWHY5DNQS64J23
----------------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 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 Ordinary shares of 1 pence each
instrument, type of instrument fully paid
Identification code ISIN: GB00B125SX82
----------------------------------- -------------------------------------
b) Nature of transaction Subscriber in the Capital Raising
----------------------------------- -------------------------------------
c) Price(s) and volume(s) Price Volume
15.25p 81,148
-------
----------------------------------- -------------------------------------
d) Aggregated information N/a
* Aggregated volume
* Price
----------------------------------- -------------------------------------
e) Date of transaction 17 January 2019
----------------------------------- -------------------------------------
f) Place of transaction Outside a trading venue
Details of the person(s) discharging managerial responsibilities/person
closely associated with
a) Name(s) Phillip Gobe
----------------------------------- -------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Finance and Corporate Development
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) LEI 213800SWHY5DNQS64J23
----------------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 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 Ordinary shares of 1 pence each
instrument, type of instrument fully paid
Identification code ISIN: GB00B125SX82
----------------------------------- -------------------------------------
b) Nature of transaction Subscriber in the Capital Raising
----------------------------------- -------------------------------------
c) Price(s) and volume(s) Price Volume
15.25p 155,881
--------
----------------------------------- -------------------------------------
d) Aggregated information N/a
* Aggregated volume
* Price
----------------------------------- -------------------------------------
e) Date of transaction 17 January 2019
----------------------------------- -------------------------------------
f) Place of transaction Outside a trading venue
----------------------------------- -------------------------------------
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
RAGUSOORKBAAAAR
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January 14, 2019 08:41 ET (13:41 GMT)
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