Panthera Resources PLC Republic Investment Management Financing Progress (7194L)
10 September 2019 - 1:58AM
UK Regulatory
TIDMPAT
RNS Number : 7194L
Panthera Resources PLC
09 September 2019
9 August 2019
Panthera Resources Plc
("Panthera" or "the Company")
Republic Investment Management (RIM) Financing Progress
Panthera Resources plc (AIM: PAT), the gold exploration and
development company with assets in India and West Africa, is
pleased to update the market regarding the progress of the recently
renegotiated financing package with RIM.
As previously announced on 8 August 2019, Tranche 3 of the RIM
financing was restructured and split into two separate investment
tranches. Tranche 3A is for gross proceeds of GBP500,000 at 10
pence per share. The Company has now received GBP400,000 of the
GBP500,000 contractual commitment from RIM and the remaining
GBP100,000 is expected within the next few weeks. A further update
on timing will be provided in due course.
The payment timing for Tranche 3B of A$1.76 million will be made
(as previously agreed) upon receipt of approvals to recommence
exploration at the Bhukia JV project in India. Tranche 3B is now to
be priced at a 15% discount to the 20 day VWAP at that time.
The RIM funding involves multiple parties, each with their own
particular investment circumstances, which has resulted in varied
timing of the receipt of funds. Nevertheless, the investment
process and funding has proceeded very smoothly and we are grateful
for the ongoing support of the RIM shareholders.
For the purposes of the Financial Conduct Authority's Disclosure
and Transparency Rules ("DTRs"), the issued Ordinary Share capital
of Panthera is currently 73,910,751 Ordinary Shares with voting
rights attached (one vote per share). There are no shares held in
treasury. This total voting rights figure may be used by
shareholders as the denominator for the calculation by which they
will determine whether they are required to notify their interest
in, or a change to their interest in, Panthera under the DTRs.
Enquiries
Panthera Resources PLC
Geoff Stanley (CEO) +1 (917) 941 7704
Nominated Advisor and Broker
RFC Ambrian +44 (0) 20 3440 6800
Rob Adamson
Bhavesh Patel
Charlie Cryer
Market Abuse Regulation (MAR) Disclosure
The information communicated in this announcement includes
inside information for the purposes of Article 7 of Regulation
596/2014.
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
MSCUGUCABUPBGAB
(END) Dow Jones Newswires
September 09, 2019 11:58 ET (15:58 GMT)
Panthera Resources (LSE:PAT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Panthera Resources (LSE:PAT)
Historical Stock Chart
From Jul 2023 to Jul 2024